20 Nov 2013
AUD/NZD edges higher post knee-jerk visit to 1.1249
FXstreet.com (Chicago) - AUD/NZD printed lower highs and lows after Wall Street and ahead of Tokyo with a crack on data releases and consequential rebound back above the 1.1280 zone.
Ahead of the Westpac leading index results in Australia, market participants digest the latest PPIs results made public in NZ beating expectations. A strong fall around the 1.1249 zone evidences a knee-jerk reaction to data releases with a bounce back above 1.1270.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1268 and oscillates between the supports aligned at 1.1241 (November 14th lows), 1.1193 (September 30th lows) ahead of 1.1145 (November 30th lows, 2007) and the resistances set at 1.13 (October 17th lows), 1.1357 (November 12th highs) followed by 1.14 (November 2nd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.
Ahead of the Westpac leading index results in Australia, market participants digest the latest PPIs results made public in NZ beating expectations. A strong fall around the 1.1249 zone evidences a knee-jerk reaction to data releases with a bounce back above 1.1270.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1268 and oscillates between the supports aligned at 1.1241 (November 14th lows), 1.1193 (September 30th lows) ahead of 1.1145 (November 30th lows, 2007) and the resistances set at 1.13 (October 17th lows), 1.1357 (November 12th highs) followed by 1.14 (November 2nd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.