17 Oct 2013
AUD/NZD breaks below 1.1322 support
FXstreet.com (Chicago) - AUD/NZD remains close to support after pulling off a small comeback above previously violated level.
Recently published Australian results indicate the NAB’s business confidence improved considerably from -1 to 3. In New Zealand, no data is expected by within minutes China is to release data with possible impact on price action.
AUD/NZD Technical Levels
Price action reveals a pair that broke below immediate support at 1.1322 managing to snap back above it but remaining glued to it. Offered at 1.1325, the pair oscillates 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 slightly bearish on one-hour timeframe analysis above the EMA20.
Recently published Australian results indicate the NAB’s business confidence improved considerably from -1 to 3. In New Zealand, no data is expected by within minutes China is to release data with possible impact on price action.
AUD/NZD Technical Levels
Price action reveals a pair that broke below immediate support at 1.1322 managing to snap back above it but remaining glued to it. Offered at 1.1325, the pair oscillates 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 slightly bearish on one-hour timeframe analysis above the EMA20.