1 Jul 2013
AUD/NZD unchanged around the 1.18 handle
FXstreet.com (Barcelona) - In a very slow start of 3Q in the Asia-Pacific, the AUD/NZD cross is last trading at 1.1795, off recent session lows at 1.1785, just 1 day away from RBA meeting tomorrow. The cross is down -5.95% year to date.
AUD/NZD looks bearish
According to FXWW founder Sean Lee, AUD/NZD “looks bearish and I think we are in a short-term consolidation phase between 1.1750/1.2000 before further falls eventuate.” Hong-Kong closed today for holiday, and Tankan index in Japan and PMI's in China will be key risk events of the session at 23:50 and 1:00-45 GMT respectively.
Key technical levels
Immediate support to the downside for AUD/NZD lies at recent session lows 1.1785, followed by June 19/20 lows at 1.1741/8, and Jan 2009 lows at 1.1738. To the upside, closest resistance lies at June 12/18 lows 23/34, followed by June 17/24 lows at 1.1845/52, and June 26 lows at 1.1880.
AUD/NZD looks bearish
According to FXWW founder Sean Lee, AUD/NZD “looks bearish and I think we are in a short-term consolidation phase between 1.1750/1.2000 before further falls eventuate.” Hong-Kong closed today for holiday, and Tankan index in Japan and PMI's in China will be key risk events of the session at 23:50 and 1:00-45 GMT respectively.
Key technical levels
Immediate support to the downside for AUD/NZD lies at recent session lows 1.1785, followed by June 19/20 lows at 1.1741/8, and Jan 2009 lows at 1.1738. To the upside, closest resistance lies at June 12/18 lows 23/34, followed by June 17/24 lows at 1.1845/52, and June 26 lows at 1.1880.