16 Jul 2013
AUD/NZD dealing with 1.1650 bid line
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last quoted at 1.1642 bids, retracing from late London session weekly highs at 1.1738, printed on the back of Kiwi weakness ahead of NZ CPI at 22:45 GMT.
AUD/NZD finds support on Kiwi selling
According to FXWW founder Sean Lee, behind the move lower in Kiwi “Asian central bank have been seen selling NZD/USD,” adding: “It could be a game changer if these central banks start realigning their reserves.” Later on at 01:30 GMT will come the RBA meeting minutes. Jim Langlands, analyst at FX Charts, said he is “looking for Aud/Nzd to head towards 1.1385 support.”
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at recent session and July 10 lows 1.1635, followed by past Thursday's lows at 1.1616, and Friday's fresh 4.5-year lows at 1.1580. To the upside, closest resistance shows at yesterday's Asian session highs/July 08 lows 1.1675, followed by July 09 highs at 1.1720, and recent London session weekly highs at 1.1738.
AUD/NZD finds support on Kiwi selling
According to FXWW founder Sean Lee, behind the move lower in Kiwi “Asian central bank have been seen selling NZD/USD,” adding: “It could be a game changer if these central banks start realigning their reserves.” Later on at 01:30 GMT will come the RBA meeting minutes. Jim Langlands, analyst at FX Charts, said he is “looking for Aud/Nzd to head towards 1.1385 support.”
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at recent session and July 10 lows 1.1635, followed by past Thursday's lows at 1.1616, and Friday's fresh 4.5-year lows at 1.1580. To the upside, closest resistance shows at yesterday's Asian session highs/July 08 lows 1.1675, followed by July 09 highs at 1.1720, and recent London session weekly highs at 1.1738.