The Australian Dollar has declined by 1.43% against the New Zealand Dollar since September 11. The 50-, 100– and 200– period simple moving averages pressured the currency pair lower during last week’s trading sessions.
All things being equal, the AUD/NZD exchange rate could continue to edge lower during the following trading sessions. A breakout through the lower boundary of a descending channel pattern could occur.
However, the currency exchange rate could make a brief retracement towards the 1.0850 area during this week’s trading sessions.
