The Australian Dollar has declined by 1.46% against the New Zealand Dollar since last week’s trading sessions. The currency pair breached the 50– period simple moving average at 1.0545 last week.
All things being equal, the AUD/NZD exchange rate could continue to edge lower during the following trading sessions. The potential target for sellers will be near the 1.0350 level.
However, the 200 Since last week’s trading s period simple moving average at 1.0420 could provide support for the currency exchange rate this week.
