AUD/NZD is posting fresh lows this morning and is slowly approaching the current yearly low at 1.0019. The next big support level is 1.00 and given that there are option structures reported at that level, there will likely be option-related demand ahead of it. The Aussie Dollar is under broad pressure after dovish remarks from RBA Governor Stevens yesterday, while the Kiwi Dollar remains surprisingly resilient and is approaching the 0.77 level. A break sub-1.00 in AUD/NZD would likely trigger stops in size & fresh momentum selling and it would take a while until the pair would find any meaningful support.
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