31 Jul 2013
AUD/NZD buried at 1.1250 region
FXstreet.com (New York) - The AUD/NZD technical cross has remained buried Thursday morning, unable to mount and sort of recovery attempt after being hammered throughout yesterday’s sessions.
The AUD/NZD is currently incurring sizable losses during Asian trading, now settling at 1.1249 (20-day SMA). Briefing the technicals, the AUD/NZD remains fortified by support at 1.1242 (July 31 low), ahead of 1.1227, and 1.1205. Any recovery will be limited by resistances at 1.1272 (55-day MA), onto 1.1334 (200-day SMA)
AUD/NZD event risk
Later today at 23:30 GMT, Australia is slated to reveal the AiG Performance of Manufacturing Index, followed by New Home Sales at 01:00 GMT. The marquee release of the Asian session will come from China however, including the NBS Manufacturing PMI at 01:00 GMT, and the HSBC Manufacturing PMI at 01:45 GMT.
The AUD/NZD is currently incurring sizable losses during Asian trading, now settling at 1.1249 (20-day SMA). Briefing the technicals, the AUD/NZD remains fortified by support at 1.1242 (July 31 low), ahead of 1.1227, and 1.1205. Any recovery will be limited by resistances at 1.1272 (55-day MA), onto 1.1334 (200-day SMA)
AUD/NZD event risk
Later today at 23:30 GMT, Australia is slated to reveal the AiG Performance of Manufacturing Index, followed by New Home Sales at 01:00 GMT. The marquee release of the Asian session will come from China however, including the NBS Manufacturing PMI at 01:00 GMT, and the HSBC Manufacturing PMI at 01:45 GMT.