23 Oct 2013
AUD/NZD descending gradually; in-between 1.1450/60
FXstreet.com (Chicago) - AUD/NZD remains with gains despite gradual descent from 1.15 front after the closing of Wall Street ahead of data due later.
Ahead of trade balance in NZ and Chinese data along the Australian RBA deputy governor speech, market participants extend gradual retracement from 1.15 session highs for a total of 0.51% gains so far.
AUD/NZD Technical Levels
Technically speaking, the pair loses momentum and retraces from 1.15 highs after the closing of the US trading session and ahead of NZ data with potential effects on the pair’s price action. Still above the upward trendilne from last September 29th lows and with primary and secondary trends pointing up, the pair is offered at 1.4597. On the downside, supports are aligned at 1.1442 (October 17th lows), 1.14 (October 5th highs) ahead of 1.1354 (October 21st highs) and the resistances are set at 1.1473 (September 9th lows), 1.1517 (September 10th lows) followed by 1.16 (September 11th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Ahead of trade balance in NZ and Chinese data along the Australian RBA deputy governor speech, market participants extend gradual retracement from 1.15 session highs for a total of 0.51% gains so far.
AUD/NZD Technical Levels
Technically speaking, the pair loses momentum and retraces from 1.15 highs after the closing of the US trading session and ahead of NZ data with potential effects on the pair’s price action. Still above the upward trendilne from last September 29th lows and with primary and secondary trends pointing up, the pair is offered at 1.4597. On the downside, supports are aligned at 1.1442 (October 17th lows), 1.14 (October 5th highs) ahead of 1.1354 (October 21st highs) and the resistances are set at 1.1473 (September 9th lows), 1.1517 (September 10th lows) followed by 1.16 (September 11th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.