22 Aug 2013
AUD/NZD rises to 1.1473, 17-day highs
FXstreet.com (Chicago) - AUD/NZD reached 1.1473 intraday highs as the Aussie is driven higher by bulls across the board. The pair had fallen below 1.1420 earlier today but recovered to accumulate 0.26% daily gains so far.
The CB leading indicator made public in Australia fell to -0.2% from a flat percentage last month. Nonetheless, market participants hold on to a hopeful China as the empiric facts demonstrate economic expansion with most the recent manufacturing PMI index at 50.1.
Technically speaking, the pair trades at 1.1463, falling over 20 pips from 1.1470 zone but remaining within supports at 1.1448 (August 13th highs), 1.1436 (August 3rd highs) followed by 1.1420 (August 14th highs) and resistances at 1.1469 (August 4th highs), 1.1478 (August 5th highs) ahead of 1.1496 (August 2nd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis offered above the EMA20.
The CB leading indicator made public in Australia fell to -0.2% from a flat percentage last month. Nonetheless, market participants hold on to a hopeful China as the empiric facts demonstrate economic expansion with most the recent manufacturing PMI index at 50.1.
Technically speaking, the pair trades at 1.1463, falling over 20 pips from 1.1470 zone but remaining within supports at 1.1448 (August 13th highs), 1.1436 (August 3rd highs) followed by 1.1420 (August 14th highs) and resistances at 1.1469 (August 4th highs), 1.1478 (August 5th highs) ahead of 1.1496 (August 2nd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis offered above the EMA20.