[AUD/NZD]

)[AUD/NZD] traded in a tight range again yest but found support near between 1.2200/1.2285 which is close to the 50%...
[AUD/NZD] traded in a tight range again yest but found support near between 1.2200/1.2285 which is close to the 50% retrace of 1.1655-1.2940 move with a minimum clearance of 1.2545 needed to avoid further setback. The pair rose to an o/n high of 1.2420 filling selling orders at the 1.2400 level but has since retreated a tad to open this morning around the 1.2380 level. A sustainable clearance of the 1.2390 level which was the previous strong support will bode well for the pair's fortunes as it attempts to correct from its recent pounding. The release of the Westpac NZ consumer confidence at 1.00 GMT which is expected to be poor may well give the pair the needed boost. Buying orders at 1.2320 and selling orders at 1.2450 will keep the range ahead of the data.