The AUDNZD has bounced off support and the 20 day MA, to move up thru 1.2800 taking out a large US investment house offer in the process. There has been a sell off in NZD after the weaker than expected NZ retail sales figures were released earlier today, as traders and investors reassess the fundamentals and jump ship into AUD, pushing the cross higher. If this builds moment into Eurrope tonight we could see AUDNZD take out the recent high of 1.2930 and help squeeze AUDUSD higher thru 7620.
