- The kiwi regains strength after the Australian fails around 1.0700.
- AUD / NZD remains bearish, below 1.0650, it could fall back to 1.0560.
He AUD / NZD it is falling on Tuesday, after testing the 1.0700 area for many days. The Australian dollar failed to rise, leaving the cross vulnerable to the downside.
The decline so far found support at the 1.0650 area; a lower break should expose 1.0600. The next strong support is at 1.0560. A weekly close below 1.0580 should add more downward pressure.
A daily close clearly above 1.0700 would negate the bearish bias, opening the doors for more gains. The next target is seen at the 1.0800 area.
Daily chart
Technical levels
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