16 Oct 2013
AUD/NZD extends bearish channel below 1.1350
FXstreet.com (Chicago) - AUD/NZD remains trading around session lows below the 1.1350 front after the release of data in both countries.
Data recap
Earlier released data indicated better than expected CPIs for New Zealand at 1.4% vs. past 1.3%. Australian Westpac leading indexes was -0.1% vs. past 0.4%.
AUD/NZD Technical Levels
Price action reveals divergence between long-term and short-term trends with intraday price movement pointing down breaking back immediate support to now trade at 1.1343 and oscillate 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). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.
Data recap
Earlier released data indicated better than expected CPIs for New Zealand at 1.4% vs. past 1.3%. Australian Westpac leading indexes was -0.1% vs. past 0.4%.
AUD/NZD Technical Levels
Price action reveals divergence between long-term and short-term trends with intraday price movement pointing down breaking back immediate support to now trade at 1.1343 and oscillate 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). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.