25 Jun 2013
AUD/NZD above key 1.1930 level
FXstreet.com (Barcelona) - The AUD/NZD is currently trading at 1.1935, off session and weekly highs at 1.1973, slightly in the positive for the week so far. The cross has bounced from overnight early London session weekly lows at 1.1852, on the back of Aussie strength.
AUDNZD establishing a broadening base
As Alex Haywood at ForexTrading.TV notes, the AUD/NZD might be building a “broadening base,” with key resistance now at the descending trendline coming from latest highs which represent the upper bound of the wedge around the 1.2020/30 level. The analyst also says a key daily close to watch will be the 1.1932 mark, as previous multi-year low from 2009, in order for the cross to keep moving higher.
Key technical levels
Immediate resistance to the upside for AUD/NZD shows at mentioned recent weekly/June 17 highs 1.1973, followed by June 13 highs at 1.2009, and June 11 highs at 1.2034. To the downside, closest support lies at current levels as Friday's highs 1.1930, followed by session lows at 1.19001, and mentioned weekly lows at 1.1852.
AUDNZD establishing a broadening base
As Alex Haywood at ForexTrading.TV notes, the AUD/NZD might be building a “broadening base,” with key resistance now at the descending trendline coming from latest highs which represent the upper bound of the wedge around the 1.2020/30 level. The analyst also says a key daily close to watch will be the 1.1932 mark, as previous multi-year low from 2009, in order for the cross to keep moving higher.
Key technical levels
Immediate resistance to the upside for AUD/NZD shows at mentioned recent weekly/June 17 highs 1.1973, followed by June 13 highs at 1.2009, and June 11 highs at 1.2034. To the downside, closest support lies at current levels as Friday's highs 1.1930, followed by session lows at 1.19001, and mentioned weekly lows at 1.1852.