Opened in Asia at $1.0631 with the pair down from highs yesterday of $1.0688 seen in Europe. Better than expected NZ Dec trade data weighed on the AUD/NZD which prompted a slide in the cross to NZ$1.2924 from NZ$1.2966, which stalled an early rise in AUD/USD at $1.0641. The pair then slid with EUR/USD to $1.0592 before recovering to $1.0628 later settling around $1.0615. The cross recovered to NZ$1.2645 before renewed sales pushed to fresh lows of NZ$1.2915. AUD/JPY dropped on exporter and custodial selling in the Tokyo fix and again later on fresh sales in USD/JPY from Y82.41 to Y81.65, but is holding firm above the Y81.49 200day MA. EUR/AUD was steady through a A$1.2315-51 range but remains on a heavy footing after highs of Wednesday of A$1.2481. Order boards are largely empty ahead of the weekend but offers are seen towards $1.0650 with support at $1.0595/90 and $1.0540/50.
EasyForexNews Research Team