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18 Sep 2013
AUD/NZD eyeing August lows
FXstreet.com (London) - AUD/NZD has settled down at 1.1350 closing the gap and finding bids on support.
AUD/NZD slid 45 pips overnight from above 1.1400 the figure while the RBA minutes for September meeting showed little new from the August Research Teams at TD Securities explained that the RBA minutes for the September meeting showed little new from the August meeting. Risk for the pair comes in the form of markets attention turning towards FOMC tomorrow and subsequent positioning may favour the higher yielding of the pair initially.
AUD/NZD levels
The pair is trading below the pivot of 1.1392 and appears to be consolidating with RSI (14) reading towards 30. A bearish bias remains to the pair, with EMA5 offering some support on the hourly chart. Resistances are 1.1392, 1.1420 and 1.1460. 1.1320 offers target and failures here open up august lows to 1.1200.
AUD/NZD slid 45 pips overnight from above 1.1400 the figure while the RBA minutes for September meeting showed little new from the August Research Teams at TD Securities explained that the RBA minutes for the September meeting showed little new from the August meeting. Risk for the pair comes in the form of markets attention turning towards FOMC tomorrow and subsequent positioning may favour the higher yielding of the pair initially.
AUD/NZD levels
The pair is trading below the pivot of 1.1392 and appears to be consolidating with RSI (14) reading towards 30. A bearish bias remains to the pair, with EMA5 offering some support on the hourly chart. Resistances are 1.1392, 1.1420 and 1.1460. 1.1320 offers target and failures here open up august lows to 1.1200.