At the moment, it is difficult to clearly assess how AUDNZD will behave. Price moves in a clear and supply will try to follow it. On the other hand drops that we have observed for recent two weeks have not been corrected until now. In addition AUDNZD is as close as 60 pips to key support at 1.0330. We will know more at the end of today’s session when it will be possible to answer the question whether demand has managed to maintain advantage throughout the session.
Ending session at similar level will strengthen the demand and may lead price to resistance 1.0570. But If supply will be stronger and at the end of the session, a long upper shadow will appear it can only accelerate declines to key support 1.0330.
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