28 Jun 2013
AUD/NZD completes 1 full month around 1.19
FXstreet.com (Barcelona) - With liquidity at its lowest given the US-Asian session shift, and spreads widening, the AUD/NZD cross is last at 1.1900 round bids, unchanged so far for the week, inside a 1.1999/1.1853 range. It's been already a full month since the cross printed these quotes back in late May.
Totally flat for the short term
“I think the basing in the NZD is an important development which could have implications for other pairs,” said FXWW founder Sean Lee, who thinks “AUD/NZD looks toppy now at 1.2000.” 50 SMA in the 4H chart is totally flat, while the 200 one is coming at the 1.1950 level above current price slowing the descending slope.
Key technical levels
Immediate support to the downside for AUD/NZD lies at Wednesday lows 1.1880, followed by late London session/Monday's lows at 1.1853, and Friday's lows at 1.1837. To the upside, closest resistance shows at past Friday's/NY session highs 1.1930, followed by yesterday's highs at 1.1960, and Tuesday's weekly highs at 1.1999.
Totally flat for the short term
“I think the basing in the NZD is an important development which could have implications for other pairs,” said FXWW founder Sean Lee, who thinks “AUD/NZD looks toppy now at 1.2000.” 50 SMA in the 4H chart is totally flat, while the 200 one is coming at the 1.1950 level above current price slowing the descending slope.
Key technical levels
Immediate support to the downside for AUD/NZD lies at Wednesday lows 1.1880, followed by late London session/Monday's lows at 1.1853, and Friday's lows at 1.1837. To the upside, closest resistance shows at past Friday's/NY session highs 1.1930, followed by yesterday's highs at 1.1960, and Tuesday's weekly highs at 1.1999.