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21 Feb 2014
AUD/NZD rebounds at 1.0810
FXStreet (Córdoba) - The AUD/NZD dropped on Thursday but managed to close far from the lows, around 1.0840, after rebounding from 1.0810.
Weak Chinese data, with the preliminary reading of the PMI, pushed the Aussie to the downside across the board, sending the AUD/NZD far from 1.0900. During yesterday’s Asian session dropped to 1.0830 but extended losses on European hours and bottomed at 1.0810, 2-day low. On New York, the Australian dollar gained momentum and boosted the AUD/NZD that moved away from the lows, trimming losses.
Early in Asia the pair remains quiet, hovering around 1.0840/45, after finding resistance at 1.0855/60. With no economic data to be released in the coming hours, price action activity could remain limited in the AUD/NZD.
Weak Chinese data, with the preliminary reading of the PMI, pushed the Aussie to the downside across the board, sending the AUD/NZD far from 1.0900. During yesterday’s Asian session dropped to 1.0830 but extended losses on European hours and bottomed at 1.0810, 2-day low. On New York, the Australian dollar gained momentum and boosted the AUD/NZD that moved away from the lows, trimming losses.
Early in Asia the pair remains quiet, hovering around 1.0840/45, after finding resistance at 1.0855/60. With no economic data to be released in the coming hours, price action activity could remain limited in the AUD/NZD.