Mostly from the crosses and weaker data released overnight..
AUD/NZD has been hammered down to 1.2350 from 1.2425 on the back of comments from RBNZ’s Wheeler and EUR/AUD continues to climb in tandem with the EUR/USD to highs of 1.3125 from 1.3120 before easing off…
The move lower in AUD/NZD marks a break through 1.2360 lows seen at the start of last October, with next notable support down at 1.2302 (Aug 2011 low). EUR/AUD resistance is now seen int the 1.3140/60 area (Dec 2011 highs)
On the flipside some support is being gleamed from AUD/JPY as the ongoing broad yen weakness prevails but the pair has so far hit a wall just ahead of a barrier at 96.00 and tech res at 96.43 (Aug 18 2008 high).
AUD/USD bids remain in the 1.0380/90 bracket with sell stops just below ahead of exporters bids down at 1.0350/60. Sell stops lie below ahead of tech support at the 200 day MA currently at 1.0311. Offers remain in the 1.0435/50 zone ( 1.0451 NY High) with stronger just above towards 1.0470.
AUD/USD currently trades around 1.0400
