5 Sep 2013
AUD/NZD finds plenty of sellers below 1.1650 ahead of Aus trade balance
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading near day lows last at 1.1593 bids off yesterday's late Asian session fresh 1-month highs at 1.1660 few hours away from Australian trade balance data to be released at 01:30 GMT.
AUD/NZD adding to the bullish view
“AUD/NZD played catch-up and is targeting first Fibo resistance at 1.1760, playing ranges favoured,” said FXWW founder Sean Lee. According to IFRMarkets analysts: “Multiple closes above the 55 will add to the bullish view for this pair. We still look for a dip to buy (1.1540) but may not get it. The 10 & 21 DMAs are bullishly aligned, Bollis are widening and RSI is biased up to give bulls the edge. If we don't get our dip we may be forced to pay up soon.”
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Tuesday's highs 1.1634, followed by yesterday's mentioned fresh 1-month highs at 1.1660, and July 16 highs at 1.1737. To the downside, closest support lies at recent session lows/August 23-26 highs around 1.1585/95, followed by Monday's highs at 1.1551, and August 29 highs at 1.1526.
AUD/NZD adding to the bullish view
“AUD/NZD played catch-up and is targeting first Fibo resistance at 1.1760, playing ranges favoured,” said FXWW founder Sean Lee. According to IFRMarkets analysts: “Multiple closes above the 55 will add to the bullish view for this pair. We still look for a dip to buy (1.1540) but may not get it. The 10 & 21 DMAs are bullishly aligned, Bollis are widening and RSI is biased up to give bulls the edge. If we don't get our dip we may be forced to pay up soon.”
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Tuesday's highs 1.1634, followed by yesterday's mentioned fresh 1-month highs at 1.1660, and July 16 highs at 1.1737. To the downside, closest support lies at recent session lows/August 23-26 highs around 1.1585/95, followed by Monday's highs at 1.1551, and August 29 highs at 1.1526.