4 Dec 2013
AUD/NZD picking itself off the floor
FXstreet.com (London) - Investors are continuing to prefer the rong>NZD over the rong>AUD but the pair has found a potential bottom for the time being targeting the 1.11 handle.
AUD tiring out
There was nothing new out of the RBA and the rallies are becoming more and more exhausted as the market targets in on the key support at 0.9040/50 (support off of 2008 low).
NZD to turn bearish?
With the NZD, the downside remains sticky and if the market continues lower the market might see more of a grind lower rather than a collapse, but then again the market is probably not paying enough attention to the RBNZ's concerns over the strength of their currency and strong NFP number could see the NZD sub 0.8000.
AUD/NZD heading higher?
RSI (14) reads 47.75 while the cross has a high so far of 1.1093 with a bullish undertone on the intraday basis again.
AUD tiring out
There was nothing new out of the RBA and the rallies are becoming more and more exhausted as the market targets in on the key support at 0.9040/50 (support off of 2008 low).
NZD to turn bearish?
With the NZD, the downside remains sticky and if the market continues lower the market might see more of a grind lower rather than a collapse, but then again the market is probably not paying enough attention to the RBNZ's concerns over the strength of their currency and strong NFP number could see the NZD sub 0.8000.
AUD/NZD heading higher?
RSI (14) reads 47.75 while the cross has a high so far of 1.1093 with a bullish undertone on the intraday basis again.