AUD/NZD once more holds at support
AUD/NZD on Wednesday, once again, managed to stabilise above its current March low at $1.0675 before forming a bullish ‘Hammer’ on the daily candlestick chart.
Therefore, while the cross remains above Wednesday’s $1.0687 low, short-term upside could take it back towards last week’s high at $1.0804. In case of a sudden bearish reversal taking the currency pair to below the recent $1.0687 to $1.0675 lows on a daily chart closing basis, the late December trough at $1.0624 would be in focus.
