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Thomson Reuters
Apr 28 - 09:48 PM
AUD/NZD - Poised Above Fibo Support After Last Week's Fall
First appeared on eFXplus on Apr 28 - 07:40 PM
  • AUD/NZD trended higher for most of April before falling 1.20% last week
  • Very soft Aus CPI hit the cross hard as RBA rate cut expectations soared
  • Fibo support is found at the 38.2 of 1.0275/1.0725 move is at 1.0553
  • Break below 1.0550 targets 1.0490/1.0500 where the 50% & 100-day MA converge
  • AUD/NZD likely to remain offered ahead of RBA meeting next week
  • Resistance in the AUD/NZD is at the 21-day MA at 1.0592

aud/nzd Click here

Source:
Thomson Reuters IFR Markets

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