By ForexMansion.com
The AUD/NZD pair tried tobreakdown the trading range that limited its movements for more than 3 weeks, however the attempt failed due to the rise witnessed by the Australian dollar, prompting the pair to escape the downward movement.
In general the AUD and NZD are still recovering against the dollar, making it difficult to determine a specific direction for the pair.
There isn’t any vital economical data from Australia putting the weight on kiwi and the current market sentiment.
New Zealand will release the manufacturing activity index during the fourth quarter of 2010 at 21:45 GMT where the previous reading was at 3.1%.
New Zealand’s data may have relatively weak impact which will prompt fluctuations due the investors focus on the US labor data on Friday which will be the main market mover.
Originally posted here
