Forex: AUD/NZD pressing lower against 1.2050 level

FXstreet.com (Barcelona) - With growing chatter of RBA cutting rates next week, and soft domestic data, AUD/NZD is last at fresh session lows 1.2040, down -0.62% for the week so far, on the back of NZD strength.

Few minutes away from key risk event of the Asia-Pacific for Aussie, Australia PPI Q1 at 01:30 GMT, the AUD/USD is finding resistance at the 1.0270 ask line, while NZD/USD has broken above the 0.8520 level.

Immediate support to the downside for AUD/NZD lies at recent session lows 1.2040, followed by March 2009 lows at 1.2031, and April 2009 lows at 1.2026. To the upside, closest resistance shows at current levels as April 26 lows 1.2053, followed by Monday's lows at 1.2082, and yesterday's highs at 1.2104.

May 3, 2013

Forex: EUR/USD volatile day ends with sharply lower close

It was a volatile day for the EUR/USD, which opened the session at 1.3184 and at one point immediately after the ECB rate announcement traded as high as 1.3243. However, the pair was unable to sustain gains and quickly reversed downward during the course of Mario Draghi’s press conference, finishing the day 123 pips lower at 1.3061.

Forex Flash: Taking profit (for now) on short AUD/NZD – NAB Global Markets

The AUD/NZD finished the day down 20 pips at 1.2060, which was the lowest daily close since October 2009. The pair is currently down another 20 pips during Asia trade at 1.2040. However, some analysts believe the pair is due for a bounce, and now is good time to cover short positions.