26 Jul 2013
AUD/NZD finds some buyers above 1.1400
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.143bids, off early NY session lows at 1.1396, the lowest seen since November 2008, mostly on the back of Kiwi strength, following yesterday's RBNZ keeping rates unchanged.
AUD/NZD next target at 1.1385
“AUD/NZD has closed below 1.1500 and the next technical target there is at 1.1385", said FXWW founder Sean Lee, who thinks Kiwi will strengthen further, looking for the 0.8180 level next. The AUD/NZD cross is down -8.69% lower year to date, with 4 consecutive months in the negative already since March.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at yesterday's/Monday's previous weekly lows and Friday's lows as well 1.1529/37, followed by July 12 lows at 1.1580, and July 11 lows at 1.1614. To the downside, closest support lies at recent NY weekly and 4.5-year lows 1.1396, followed by July 2002 lows at 1.1354, and Aug 2005 highs/Nov 2008 lows at 1.1289.
AUD/NZD next target at 1.1385
“AUD/NZD has closed below 1.1500 and the next technical target there is at 1.1385", said FXWW founder Sean Lee, who thinks Kiwi will strengthen further, looking for the 0.8180 level next. The AUD/NZD cross is down -8.69% lower year to date, with 4 consecutive months in the negative already since March.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at yesterday's/Monday's previous weekly lows and Friday's lows as well 1.1529/37, followed by July 12 lows at 1.1580, and July 11 lows at 1.1614. To the downside, closest support lies at recent NY weekly and 4.5-year lows 1.1396, followed by July 2002 lows at 1.1354, and Aug 2005 highs/Nov 2008 lows at 1.1289.