Australian to New Zealand dollar cross-currency pair (H4) approaches a level of historical highs. It is now a third try to set a new, higher maximum. We should note that the second approach did not end with such huge falls as in the first case and demand quite quickly came back to previous levels. So there is a big likelihood to break above before mentioned zone. However it may be hard during one day.
It is worth to consider short positioning, due to supply reaction which can be currently seen. Rate should hover below this important zone during today’s session – so we can wait for another move a little bit higher.
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