AUD/NZD is desperate to climb above 1.1180 resistance

FXStreet (Moscow) - AUD/NZD is trying to develop bullish dynamics as the cross started the day at 1.1148 and climbed to 1.178 on the back of somewhat positive AUD/USD sentiments.


At the crossroads

AUD/NZD has been growing steadily since mid-July due to kiwi selling across the board. The cross finished two positive weeks in a row and entered the consolidation phase on approach to 1.1180/1.1200 resistance. Obviously, the bulls need additional motivation to go on moving higher. The latest Global Dairy Auction results were disappointing, this increased the selling pressure in NZD/USD, that was counterbalanced by Aussie bearish sentiments. AUD/USD failed to establish bullish trend on the back of Stevens comments, which means that the cross might continue consolidating for some time now.


What are today’s key USD/JPY levels?
Currently, the cross is trading at 1.1180, while the nearest support is seen at 1.1143 (Asian low) and followed by 1.1118 (Tuesday's low). The resistance is seen at 1.1180 and followed by a pivotal level of 1.1200.