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Forex: Antipodes gently offered; AUD/NZD inches back above 1.26

By FXstreet.com,  January 02, 2013, 08:58:00 PM EDT

FXstreet.com (San Francisco) - AUD/NZD is tight in range between 1.2575 and 1.2615 so far this Thursday in Asia, last at 1.2610 after the pair's overnight recovery from 1.2495 (an 8-day low). The Australian dollar ended slightly higher against its kiwi counterpart, but spot still trades down 0.3% in the first trading week of 2013. The pair is likely to find support at 1.2545 (61.8% Fibo), and resistance at 1.2656 (Nov 29 low).

For the time being, the Aussie remains under gentle selling pressure against the greenback and euro in thin trading, with AUD/USD last quoted down 20 pips at 1.0482. The New Zealand dollar is also gently offered against its U.S. counterpart, down 0.3% at 0.8315. At the Tokyo fix, Australian shares are up by 0.5%, while the Hang Sen 40 is down by 0.2%. Markets in Japan are closed today.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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