19 Aug 2015
AUD/NZD: sideways channel's downside playing out
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.1120 with a high of 1.1180 and a low of 1.1108.
AUD/NZD has been perorating the downside with a test of the 1.1120 support ,which is giving was to the bears as noted in the aforementioned lows. 1.1280 was lost earlier this week in the build-up to the GTD auction yesterday, which turned out supportive to the bird as prices stabilised and were backing the positive expectations for the time being.
Meanwhile, the dollar has been sold off across the board today post the release of the dovish FOMC minutes, that, although has not written of the requirement of a rate hike, the timings of which were not specified as being required immediately with some way to go in respect of the correct conditions for incremental rates hikes to start. Both the Aussie and kiwi have benefited on this outcome today.
AUD/NZD is testing a critical support line that was formed at the 12th of this month's downside on a double bottom from the 1.1300's. A break of which will expose the 1.1020 level and then the 1.09 handle again where the cross was last changing hands in the dial week of July.
AUD/NZD has been perorating the downside with a test of the 1.1120 support ,which is giving was to the bears as noted in the aforementioned lows. 1.1280 was lost earlier this week in the build-up to the GTD auction yesterday, which turned out supportive to the bird as prices stabilised and were backing the positive expectations for the time being.
Meanwhile, the dollar has been sold off across the board today post the release of the dovish FOMC minutes, that, although has not written of the requirement of a rate hike, the timings of which were not specified as being required immediately with some way to go in respect of the correct conditions for incremental rates hikes to start. Both the Aussie and kiwi have benefited on this outcome today.
AUD/NZD is testing a critical support line that was formed at the 12th of this month's downside on a double bottom from the 1.1300's. A break of which will expose the 1.1020 level and then the 1.09 handle again where the cross was last changing hands in the dial week of July.