Forex: AUD/NZD consolidating around 1.2750

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Forex: AUD/NZD consolidating around 1.2750

FITITOL--> FXstreet.com (San Francisco) - The Australian dollar rallied to a fresh month highs against the kiwi in overnight trading, gaining ground for a second consecutive day, reaching as high as 1.2767 from an earlier low of 1.2678, a level not seen since the 27th day of March.

So far in Asia, AUD/NZD is consolidating between 1.2733 and 1.2759, last at 1.2753, recording a 0.6% gain as we near the end of the week. Should the pair break higher in the sessions ahead, key resistance is noted at the 50% retracement of the 1.3057/1.2516 decline. To the downside, support is at 1.2717 (20 April high).