Ramon Ramirez Posted May 22, 2012 Report Share Posted May 22, 2012 FXstreet.com (San Francisco) - AUD/NZD has drifted south to touch a 4-day low of 1.2915, with the market ignoring news of a dairy market oversupply of milk; New Zealand’s Fonterra cut its 2012/13 dairy forecast payout for the year as it had been expected - falling dairy prices undermines NZD fundamentals. The pair is at 1.2915 vs. 1.2955 in early trading, threatening to push lower. Short term support is noted at 1.2885 (22 March high), with resistance seen at 1.2934 (yesterday’s low). Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.