19 Jul 2013
AUD/NZD testing multi-year lows on Aussie weakness
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1619, off early NY session fresh multi-year lows at 1.1575, printed on the back of Aussie weakness, while Kiwi is flat from previous Asia-Pacific open yesterday.
AUD/NZD support at 1.15 tough to breach
According to FXWW founder Sean Lee, the AUD outlook is a “mixed bag on crosses,” but he thinks the AUD/USD is “set to recover,” the analyst said. “AUD/NZD continues to drift slowly lower and is targeting 1.1500, but that level should be tough to breach. Resistance is solid near 1.1750/75,” Lee concluded.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at recent session highs/July 05 lows 1.1640, followed by Wednesday's lows at 1.1653, and yesterday's highs at 1.1697. To the downside, closest support lies at recent session lows 1.1592, followed by past Friday's/recent NY session lows at 1.1580/75, and March 2007 highs at 1.1487.
AUD/NZD support at 1.15 tough to breach
According to FXWW founder Sean Lee, the AUD outlook is a “mixed bag on crosses,” but he thinks the AUD/USD is “set to recover,” the analyst said. “AUD/NZD continues to drift slowly lower and is targeting 1.1500, but that level should be tough to breach. Resistance is solid near 1.1750/75,” Lee concluded.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at recent session highs/July 05 lows 1.1640, followed by Wednesday's lows at 1.1653, and yesterday's highs at 1.1697. To the downside, closest support lies at recent session lows 1.1592, followed by past Friday's/recent NY session lows at 1.1580/75, and March 2007 highs at 1.1487.