24 Oct 2013
AUD/NZD still around 40-day highs
FXstreet.com (Chicago) - AUD/NZD continues edging higher around 40-day highs and close to the 1.1520 front.
Rally
Both pairs had breakdowns against other major currencies with an Aussie overcoming the kiwi’s strength on face to face battle. Spiking to 1.1524 40-day highs, the pair is expected to extend rally ahead of the NZ central bank interest rate decision.
AUD/NZD Technical Levels
Technically speaking, the pair presents signs of strong bullish rally on daily charts confirming primary and secondary trends positive momentum. Respecting the upward trendline since last September 30th lows, the pair is offered at 1.1509 and oscillates between the supports aligned at 1.1473 (September 9th lows), 1.1442 (October 10th highs) ahead of 1.1386 (October 22nd lows) and the resistances set at 1.1517 (September 10th lows), 1.1559 (September 11th highs) followed by 1.16 (August 26th highs). No data is expected in New Zealand, neither in Australia.
Rally
Both pairs had breakdowns against other major currencies with an Aussie overcoming the kiwi’s strength on face to face battle. Spiking to 1.1524 40-day highs, the pair is expected to extend rally ahead of the NZ central bank interest rate decision.
AUD/NZD Technical Levels
Technically speaking, the pair presents signs of strong bullish rally on daily charts confirming primary and secondary trends positive momentum. Respecting the upward trendline since last September 30th lows, the pair is offered at 1.1509 and oscillates between the supports aligned at 1.1473 (September 9th lows), 1.1442 (October 10th highs) ahead of 1.1386 (October 22nd lows) and the resistances set at 1.1517 (September 10th lows), 1.1559 (September 11th highs) followed by 1.16 (August 26th highs). No data is expected in New Zealand, neither in Australia.