Flash: AUD/NZD, close below 1.18 risks 1.1725, 1.16 - ANZ

FXstreet.com (Barcelona) - After a squeeze higher in AUD/NZD failed to gain traction, the price action suggests a shallow 1.1840- 1.2150 range at best, says Tim Riddell, Head of Global Markets Research at ANZ.

Riddell adds: "A near term push above 1.1970 may trigger a secondary squeeze towards the 1.2140-50 area, however, a close below 1.1800 could push aside squeeze potential and risk another flush (towards 1.1725 or even 1.1600!)."