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14 Aug 2013
AUD/NZD finds plenty of sellers below 1.1450
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at fresh session lows 1.1417 bids off recent session highs at 1.1454 few minutes away from NZ retail sales data at 22:45 GMT.
AUD/NZD slide may be ending
“The 21 DMA caps rallies for now but holds above the 10 DMA while Bollis contract suggest the slide may be ending,” said the IFRMarkets analysts team, adding: “Daily RSI's trend is up & NZD loses some yield advantage to give bulls an edge.” IFRMarkets say they will wait patiently to be filled at their 1.1265 bid as they don't want to be chasing the market.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at recent session's highs 1.1454, followed by Monday's weekly highs at 1.1462, and July 29 highs at 1.1486. To the downside, closest support lies at July 25 lows 1.1394, followed by August 06 lows at 1.1353, and August 08 lows 1.1328.
AUD/NZD slide may be ending
“The 21 DMA caps rallies for now but holds above the 10 DMA while Bollis contract suggest the slide may be ending,” said the IFRMarkets analysts team, adding: “Daily RSI's trend is up & NZD loses some yield advantage to give bulls an edge.” IFRMarkets say they will wait patiently to be filled at their 1.1265 bid as they don't want to be chasing the market.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at recent session's highs 1.1454, followed by Monday's weekly highs at 1.1462, and July 29 highs at 1.1486. To the downside, closest support lies at July 25 lows 1.1394, followed by August 06 lows at 1.1353, and August 08 lows 1.1328.