AUD/NZD rebounds after hitting a triple-bottom on the daily chart
While the aussie looks to be making a go for the second best performing major currency on the day, the kiwi continues to lag behind.
Looking at the cross between the two currencies, the previous two days this week saw the pair test the swing lows formed in February and earlier this month before finding a rebound into the close yesterday.
That rebound continued into trading today as well, with the kiwi lagging on the back of selling against the dollar and the aussie.
This is a pair that has followed technical levels rather well over the last two months but in the bigger picture we're seeing a consolidation phase.
The big break in the pair will have to come from an upside break of the 50.0 retracement of 1.0826, while a downside break will have to go past the swing low levels that has been holding up the pair on three occasions now over the past two months.
