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3 Dec 2014
AUD/NZD gains reversed on Australian GDP miss
FXStreet (Guatemala) - AUD/NZD is trading at 1.0793, down -0.25% on the day, having posted a daily high at 1.0849 and low at 1.0782.
AUD/NZD has lost its advance on the bears as the poor GDP took the market by surprise, pressuring the Aussie to fresh four year lows. The cross has retracted most of its gains post the release of the dairy prices coming in lower yet again for New Zealand and a blow to the bird.
The drop takes the pair back into negative territory and below the 1.08 handle. Next support to the downside can be found at 1.0780 (Weekly Classic S1), 1.0773 (Yesterday's Low), 1.0753 (Daily Classic S1) and 1.0709 (Daily Classic S2).
AUD/NZD has lost its advance on the bears as the poor GDP took the market by surprise, pressuring the Aussie to fresh four year lows. The cross has retracted most of its gains post the release of the dairy prices coming in lower yet again for New Zealand and a blow to the bird.
The drop takes the pair back into negative territory and below the 1.08 handle. Next support to the downside can be found at 1.0780 (Weekly Classic S1), 1.0773 (Yesterday's Low), 1.0753 (Daily Classic S1) and 1.0709 (Daily Classic S2).