23 Jun 2014
AUD/NZD trading back below 1.08 handle
FXStreet (Guatemala) - AUD/NZD is trading at 1.0782, down -0.11% on the day, having posted a daily high at 1.0790 and low at 1.0769.
AUD/NZD has been mostly sideways except for the recent 20-pip range, which has come back into line now. The AUD/NZD spot remains in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. Despite the bullish build up this year, we are explained the view of BNZ analysts that there is much more to come in New Zealand’s rate hike cycle. “As we have said many times before, the economy is growing at an above-potential pace and whatever spare capacity there might have been has now gone”. We now await the HSBC Manufacturing PMI (Jun) which could be an impacting reading for Australia today.
AUD/NZD Levels
Current price is 1.0783, with resistance ahead at 1.0790 (Daily High), 1.0791 (Hourly 100 SMA), 1.0793 (Hourly 20 EMA), 1.0794 (Daily 100 SMA) and 1.0796 (Daily Classic PP). Next support to the downside can be found at 1.0778 (Yesterday's Low), 1.0777 (Daily Classic S1), 1.0776 (Daily Open), 1.0770 (Monthly Low) and (Weekly Low).
AUD/NZD has been mostly sideways except for the recent 20-pip range, which has come back into line now. The AUD/NZD spot remains in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. Despite the bullish build up this year, we are explained the view of BNZ analysts that there is much more to come in New Zealand’s rate hike cycle. “As we have said many times before, the economy is growing at an above-potential pace and whatever spare capacity there might have been has now gone”. We now await the HSBC Manufacturing PMI (Jun) which could be an impacting reading for Australia today.
AUD/NZD Levels
Current price is 1.0783, with resistance ahead at 1.0790 (Daily High), 1.0791 (Hourly 100 SMA), 1.0793 (Hourly 20 EMA), 1.0794 (Daily 100 SMA) and 1.0796 (Daily Classic PP). Next support to the downside can be found at 1.0778 (Yesterday's Low), 1.0777 (Daily Classic S1), 1.0776 (Daily Open), 1.0770 (Monthly Low) and (Weekly Low).