14 Oct 2013
AUD/NZD forms doji pattern at 1.1340 front
FXstreet.com (Chicago) - AUD/NZD fell at opening on Chinese results that disappointed. With a balanced supply/demand, a doji pattern seems to be forming ahead of Australian data releases.
Market reactions
Earlier data triggered price action reactions for the pair with an opening below the 1.1350 zone violating immediate support, now resistance. Ahead of housing market data in Australia at 00:30 GMT along Chinese consumer price indexes at 1:30 GMT, market participants seem to wait.
AUD/NZD Technical Levels
Price action reveals a potential doji patter after opening gap to the grounds and Tokyo’s opening. The pair extends the bearish short-term channel since last October 9th after breaking the upward trendline since last October 1st on Friday’s fall. With primary and secondary trends supporting the short-term price movement, the pair consolidates above the 1.1340 zone. Offered at 1.1342, the pair oscillates between supports aligned at 1.1322 (October 4th lows), 1.1279 (September 27th highs) ahead of 1.1239 (October 1st lows) and the resistances set at 1.1352 (October 9th lows), 1.1395 (October 7th highs) followed by 1.1441 (October 9th highs).
Market reactions
Earlier data triggered price action reactions for the pair with an opening below the 1.1350 zone violating immediate support, now resistance. Ahead of housing market data in Australia at 00:30 GMT along Chinese consumer price indexes at 1:30 GMT, market participants seem to wait.
AUD/NZD Technical Levels
Price action reveals a potential doji patter after opening gap to the grounds and Tokyo’s opening. The pair extends the bearish short-term channel since last October 9th after breaking the upward trendline since last October 1st on Friday’s fall. With primary and secondary trends supporting the short-term price movement, the pair consolidates above the 1.1340 zone. Offered at 1.1342, the pair oscillates between supports aligned at 1.1322 (October 4th lows), 1.1279 (September 27th highs) ahead of 1.1239 (October 1st lows) and the resistances set at 1.1352 (October 9th lows), 1.1395 (October 7th highs) followed by 1.1441 (October 9th highs).