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19 Mar 2015
AUD/NZD approaches record lows
FXStreet (Córdoba) - AUD/NZD is falling for the second day in a row and during the American session printed a fresh low at 1.0312, the lowest since March 5. Currently trades at 1.0320, holding near record lows located at 1.0282.
AUD/NZD technical outlook
The long term trend remains bearish but during the last month it has moved sideways around 1.0400, consolidating after a sharp decline from 1.0800. At the beginning of the month the pair was rejected from below 1.0300 while to the upside, the recovery of the aussie was capped by the 1.0500 area.
If the pair ends the day around current levels it would post the second lowest close ever, exposing the 1.0300 psychological support.
AUD/NZD technical outlook
The long term trend remains bearish but during the last month it has moved sideways around 1.0400, consolidating after a sharp decline from 1.0800. At the beginning of the month the pair was rejected from below 1.0300 while to the upside, the recovery of the aussie was capped by the 1.0500 area.
If the pair ends the day around current levels it would post the second lowest close ever, exposing the 1.0300 psychological support.