AUD/NZD hovering around 1.1000

FXStreet (Córdoba) - The AUD/NZD started the week posting marginal gains. During the last hours and ahead of the Asian session the pair is hovering around 1.100, near last month highs.

AUD/NZD near key resistance

The AUD/NZD is trading near an important resistance area located around 1.1030/40, that capped the upside last month. Price is holding an upside bias in the short term but the rally is losing momentum. A break above 1.1050 could trigger another bullish run.

If the pair makes a correction, to the downside support might be located at 1.0970 and below here at 1.0910 (April highs).