It is the third trading day that the pair has failed to break the last June high-turned support level
When something just refuses to go lower, it's going to bounce back up eventually. That's the case with AUD/NZD today.
The pair tried again for a test of the support level formed from the high seen in June last year, and once again it failed - at least for now.
That has kept NZD/USD pinned down despite the dollar giving up some gains after touching the highs earlier in the day. NZD/USD is at 0.7252 currently with the lows sitting nearby at 0.7246.
Meanwhile, the aussie has already climbed to 0.7681 against the dollar from lows of 0.7658.
The next resistance level to watch out for is 1.0657 - a level which halted the upside move last week and on Monday this week. Buyers will have to break above that in order to shake off the recent downtrend.
