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AUDNZD: Can the RBNZ Put the Brakes on the Rally?
Much like the USDJPY, which we discussed at length earlier today, the AUDNZD has been rangebound for most of 2014. In its case, the antipodean pairing has been finding consistent support in the 1.05-1.06 area and resistance between 1.09 and 1.10. While sideways trade is hardly ideal for longer-term buyers or sellers, bulls will certainly agree that 2014 has been an improvement over 2012 and 2013, when the typically-staid pair fell over 2400 pips in 24 months. Indeed, there are growing technical signs that rates may be carving out a significant long-term base within the current range. Because both Australia and New ... (full story)
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