AUD/NZD approaches 1.0700, hits 2-week highs

FXStreet (Córdoba) - The AUD/NZD rose for the third day in a row on Monday extending the recovery from 1.0540 and peaked at 1.0689, the highest price in two weeks. The Aussie approached 1.0700 and early in Asia remains near the highs trading above 1.0670.

On Friday the AUD/NZD broke an important resistance zone located around 1.0615/20 and gained upside momentum. The bullish tone prevailed at the beginning of the current week but price spiked lower momentarily during the Asian session to 1.0603 and then rebounded.

During the European session price continued to rise and peaked on American hours at 1.0689. In the last hours of the day moved in ranges between 1.0690 and 1.0670.