22 Nov 2013
AUD/NZD subdued at double bottoms
FXstreet.com (Chicago) - AUD/NZD retested grounds creating a double bottoms pattern after extending a fall that started yesterday on Stevens comments about the state of the economy and the possibilities the bank is considering to cut rates.
AUD/NZD Technical Levels
Price action reveals the pair is offered at 1.1217 and oscillates between the supports aligned at 1.1145 (November 17th lows), 1.1072 (January 10th 2006 lows) ahead of 1.0920 (June 3rd 2006 lows) and the resistances set at 1.1241 (November 13th lows), 1.13 (November 19th highs) followed by 1.1357 (November 12th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.
AUD/NZD Technical Levels
Price action reveals the pair is offered at 1.1217 and oscillates between the supports aligned at 1.1145 (November 17th lows), 1.1072 (January 10th 2006 lows) ahead of 1.0920 (June 3rd 2006 lows) and the resistances set at 1.1241 (November 13th lows), 1.13 (November 19th highs) followed by 1.1357 (November 12th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.