23 Aug 2013
AUD/NZD testing the 1.1500 region
FXstreet.com (New York) - The AUD/NZD technical cross shot up higher Friday morning, hanging on to the majority of yesterday’s gains and surging to weekly highs.
AUD/NZD technical levels
Technically speaking, the AUD/NZD is now operating at 1.1505, steadfastly rising during Asian trading, though off yesterday’s highs of 1.1549. Technically speaking, the AUD/NZD will look to test resistances at 1.1507 (50-day SMA), onto 1.1549 (August 22 high), and finally 1.1572 (July 23 low).
AUD/NZD event risk
There is little on the local calendar to distract AUD traders until the first of the inputs to Q2 GDP: construction work (Wed) and the important Capex survey (Thursday). In New Zealand, next week’s calendar contains only second tier releases. The trade balance is on Monday, monthly business confidence (perhaps the week’s highlight) is on Thursday, while building permits and money supply are on Friday.
AUD/NZD technical levels
Technically speaking, the AUD/NZD is now operating at 1.1505, steadfastly rising during Asian trading, though off yesterday’s highs of 1.1549. Technically speaking, the AUD/NZD will look to test resistances at 1.1507 (50-day SMA), onto 1.1549 (August 22 high), and finally 1.1572 (July 23 low).
AUD/NZD event risk
There is little on the local calendar to distract AUD traders until the first of the inputs to Q2 GDP: construction work (Wed) and the important Capex survey (Thursday). In New Zealand, next week’s calendar contains only second tier releases. The trade balance is on Monday, monthly business confidence (perhaps the week’s highlight) is on Thursday, while building permits and money supply are on Friday.