28 Jul 2015
AUD/NZD headed towards last supports before 1.08
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0956 with a high of 1.1016 and a low of 1.0955.
AUD/NZD is moving further to the downside and is exceptionally bearish below 1.1000. The key levee was taken out fir the first time since June 11 and since March's rally from close to parity.
AUD is well and truly in the hands of the bears while the greenback was making a good performance vs the commodity currencies on the back of durable goods orders beating expect ions setting up and bullish FOMC for this week ahead. There is a lack of drivers for the Aussie and Kiwi this week and much will continue to depend on the US calendar. The NZD has not let up since the RBNZ but the Aussie may find some relief on a neutral FOMC.
Technically, the cross is heavy while trading below the 1.12 handle and 1.0980 was critical for the mid point of the handle. A break here is the last stop for 1.0910 and 1.0800.
AUD/NZD is moving further to the downside and is exceptionally bearish below 1.1000. The key levee was taken out fir the first time since June 11 and since March's rally from close to parity.
AUD is well and truly in the hands of the bears while the greenback was making a good performance vs the commodity currencies on the back of durable goods orders beating expect ions setting up and bullish FOMC for this week ahead. There is a lack of drivers for the Aussie and Kiwi this week and much will continue to depend on the US calendar. The NZD has not let up since the RBNZ but the Aussie may find some relief on a neutral FOMC.
Technically, the cross is heavy while trading below the 1.12 handle and 1.0980 was critical for the mid point of the handle. A break here is the last stop for 1.0910 and 1.0800.