[AUD/NZD]

[AUD/NZD] began the Asian session yest at the 1.2150 level before some buying saw it reaching the day's high of 1.2195 as it was unwilling to test sellers at the 1.2220 level. Heavy selling in the Aud/Usd saw the pair turning south to challenge strong support at the 1.2060 level which once again held the onslaught to recover back to open this morning at the 1.2105 level. The pair looks likely to have another go at the 1.2060 support over coming sessions but another failure to breach it will bode well for the pair's anticipated corrective rally. Thus we prefer to buy dips towards 1.2050 along with bids by an Aussie name for the anticipated corrective rally. Offers at 1.2180 by a UK Clearer will cap the upside this session.