24 Jul 2013
AUD/NZD unchanged despite all the noise
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1618 bids, off session highs at 1.1658 and session lows at 1.1529 amid all volatility in Aussie surrounding China data.
AUD/NZD potential rally a selling opportunity
According to IFR Markets analysts AUD/NZD's “lower channel support is holding price above on the steady decline. Rally risk is high so we will be patient to get short at resistance near recent daily highs around 1.176.” The analysts argue that only a daily close above 50DMA at 1.185 would change the outlook lower.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at current levels as July 10 lows 1.1633, followed by July 03 lows at 1.1645, and recent session/Monday's weekly highs at 1.1658/66. To the downside, closest support lies at July 11 lows 1.1615, followed by July 12/18/Tuesday's lows at 1.1579/70, and Friday's/Monday's/recent session weekly lows at 1.1539/30.
AUD/NZD potential rally a selling opportunity
According to IFR Markets analysts AUD/NZD's “lower channel support is holding price above on the steady decline. Rally risk is high so we will be patient to get short at resistance near recent daily highs around 1.176.” The analysts argue that only a daily close above 50DMA at 1.185 would change the outlook lower.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at current levels as July 10 lows 1.1633, followed by July 03 lows at 1.1645, and recent session/Monday's weekly highs at 1.1658/66. To the downside, closest support lies at July 11 lows 1.1615, followed by July 12/18/Tuesday's lows at 1.1579/70, and Friday's/Monday's/recent session weekly lows at 1.1539/30.