23 Dec 2014
AUD/NZD rejected at 5-DMA
FXStreet (Mumbai) - The AUD/NZD pair failed to extend gains above the 5-DMA located at 1.0519 levels, which pushed the pair below 1.05 handle.
The pair clocked a high of 1.0529 today, before moving lower as the Aussie erased gains against the greenback. The AUD/USD pair currently trades 0.23% lower at 0.8113 levels, while the NZD/USD pair is resilient around 0.7730 levels. Thus, the AUD/NZD cross has weakened 0.26% to trade at 1.0494 levels. Moreover, with no major economic data due out of Australia and New Zealand, the chart based trading is likely to continue as we head into the Christmas holiday.
AUD/NZD Technical Levels
The pair has an immediate support located at 1.0485, under which losses could be extended to 1.0476 levels. On the other hand, resistance is located at 1.0493 and 1.0502 levels.
The pair clocked a high of 1.0529 today, before moving lower as the Aussie erased gains against the greenback. The AUD/USD pair currently trades 0.23% lower at 0.8113 levels, while the NZD/USD pair is resilient around 0.7730 levels. Thus, the AUD/NZD cross has weakened 0.26% to trade at 1.0494 levels. Moreover, with no major economic data due out of Australia and New Zealand, the chart based trading is likely to continue as we head into the Christmas holiday.
AUD/NZD Technical Levels
The pair has an immediate support located at 1.0485, under which losses could be extended to 1.0476 levels. On the other hand, resistance is located at 1.0493 and 1.0502 levels.