Forex Flash: AUD/NZD hits profit area 1.23 - Westpac

FXstreet.com (Barcelona) - After issuing a recommendation to sell AUD/NZD at 1.2560 on March 21 with target at 1.23, Westpac first target has now been hit, noting "we have taken part profit and will now move our stop down on the balance to 1.2420." The bank thinks that "a break below 1.2300 would add to downside risks for the AUD/NZD cross."

Apr 8, 2013

Forex: AUD/USD prints fresh 14-day lows sub-1.0350

AUD/USD is last at 1.0355, off recent fresh session and 14-day lows at 1.0346, following Australia AIG March construction index at 39.0, “still in contraction, and a very poor result following February's big improvement (February was the best result since mid-2010),” noted ForexLive editor Eamonn Sheridan. The pair has started the weak with a weak note, leaving behind 200 day SMA around the 1.0388 level.

Forex: EUR/AUD capped below 1.2550

EUR/AUD is last at 1.2532, off recent session highs at 1.2555, almost back to where it started the week. The cross closed Friday at 1.2514, and so far has not seen any negative in the current session as Aussie has started pretty weak, while Euro has been holding stable around the 1.30 handle.