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31 Mar 2014
AUD/NZD remains under 1.0700
FXStreet (Córdoba) - The AUD/NZD finished slightly higher on Monday, trading around 1.0685 but continues to trade in ranges. Since last Thursday is moving with support above 1.0640 and resistance around 1.0700.
The short term outlook continues sideways as long as price action remains inside the mentioned range.The current consolidation follows a rally of the AUD/NZD that started from 1.0540 two weeks ago and peaked last Wednesday at 1.0739.
Volatility in the pair could increase in the coming hours as traders get ready for the RBA decision and statement. No change in rates is expected but the words from the central bank could have a large impact on the Aussie.
The short term outlook continues sideways as long as price action remains inside the mentioned range.The current consolidation follows a rally of the AUD/NZD that started from 1.0540 two weeks ago and peaked last Wednesday at 1.0739.
Volatility in the pair could increase in the coming hours as traders get ready for the RBA decision and statement. No change in rates is expected but the words from the central bank could have a large impact on the Aussie.