AUD/NZD – Keep an eye on that 1.03 level

  • AUD/NZD is slowly moving back towards the 1.03 support level
  • While we already had two brief breakouts below, the level is still considered pivotal support
  • There were rumors of RBNZ activity around that level earlier this month, though some say even if they were active, the size of intervention is too small to be significant
  • Anyway, it is worth keeping an eye on that 1.03 level
  • If we see a clear break below & daily close sub-1.0280 (early March low), there is not much in the way for a 1.00 test

AUDNZD

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