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30 Jul 2014
AUD/NZD heading towards 1.1020 key support
FXStreet (Guatemala) - AUD/NZD is trading at 1.1028, down -0.03% on the day, having posted a daily high at 1.1037 and low at 1.1024.
AUD/NZD has been lively of late and is pressing down again towards 1.1020 support. Meanwhile, Analysts at TD Securities told us that all eyes were on the Fonterra downgrade to the current 2014/15 season. “The shaving of the farmgate price from $NZ7 to $NZ6/kg, adding the 20-25c dividend, takes the total payout to $NZ6.25/kg, marginally better than some expectations for a sub-$NZ6 outcome”. From Australia, New home sales rose by +1.2% in June and 2% in Q2, skewed towards higher-density housing.
AUD/NZD Levels
Looking to a daily chart, we see that RSI is neutral at 71.52. The 200 SMA is currently at 1.1012, up from 1.0903 at the last period close, and climbing on the hourly AUD/NZD chart.
AUD/NZD has been lively of late and is pressing down again towards 1.1020 support. Meanwhile, Analysts at TD Securities told us that all eyes were on the Fonterra downgrade to the current 2014/15 season. “The shaving of the farmgate price from $NZ7 to $NZ6/kg, adding the 20-25c dividend, takes the total payout to $NZ6.25/kg, marginally better than some expectations for a sub-$NZ6 outcome”. From Australia, New home sales rose by +1.2% in June and 2% in Q2, skewed towards higher-density housing.
AUD/NZD Levels
Looking to a daily chart, we see that RSI is neutral at 71.52. The 200 SMA is currently at 1.1012, up from 1.0903 at the last period close, and climbing on the hourly AUD/NZD chart.