7 Aug 2013
AUD/NZD, under gravity’s effect?
FXstreet.com (Chicago) - AUD/NZD was bottomless as the pair continued to accumulate losses accounting to 0.35% throughout Tuesday’s session ahead of key jobs data to be released in New Zealand.
At 22:45 GMT, Statistics New Zealand is to publish its unemployment rate in the country. In Australia, home loans data and RBA Assistant Governor Debelle’speech follows. Although the pair continued trading above 1.1200 (4-year lows reached last week), market participants seem to remain bearish. On Monday morning, the RBA released its interest rate decision at 2.50% vs. previous 2.75% on hawkish outlook for economic recovery for a short-lived peak as pair retraced from 1.1447 highs.
Technically speaking, the pair traded at 1.1369 between aligned supports at 1.1351 (August 1st highs), 1.1321 (July 31st highs), 1.1310 (July 30 lows) and resistances at 1.1392 (August 2 lows), 1.1407 (July 25 lows), 1.1438 (July 29 lows). The FXstreet trend index reported the pair as strongly bearish with MACD and CCI indicators pointing to the ground.
At 22:45 GMT, Statistics New Zealand is to publish its unemployment rate in the country. In Australia, home loans data and RBA Assistant Governor Debelle’speech follows. Although the pair continued trading above 1.1200 (4-year lows reached last week), market participants seem to remain bearish. On Monday morning, the RBA released its interest rate decision at 2.50% vs. previous 2.75% on hawkish outlook for economic recovery for a short-lived peak as pair retraced from 1.1447 highs.
Technically speaking, the pair traded at 1.1369 between aligned supports at 1.1351 (August 1st highs), 1.1321 (July 31st highs), 1.1310 (July 30 lows) and resistances at 1.1392 (August 2 lows), 1.1407 (July 25 lows), 1.1438 (July 29 lows). The FXstreet trend index reported the pair as strongly bearish with MACD and CCI indicators pointing to the ground.