6 Nov 2013
AUD/NZD, strong at reversal
FXstreet.com (Chicago) - AUD/NZD confirms reversal with latest price action consolidating above the 1.1360 zone ahead of Australian job data releases.
Fundamental data releases
Market participants wait for data releases in Australia: AiG performance of construction index (October), unemployment rates, employment changes, fulltime employment results along part-time employment data. No official data is due in New Zealand.
AUD/NZD Technical Levels
Price action reveals the consolidation of a reversal after a few hours of parallel action. Having fallen below immediate support to hit 1.1320 lows, the pair pulled off a rebound and re-position itself in between previous boundaries. Offered at 1.1364, it navigates between the supports aligned at 1.1341 (October 16th highs), 1.13 (October 16th lows) ahead of 1.1263 (October 2nd lows) and the resistances set at 1.14 (October 18th highs), 1.1434 (November 4th lows) followed by 1.1474 (November 1st highs).
Fundamental data releases
Market participants wait for data releases in Australia: AiG performance of construction index (October), unemployment rates, employment changes, fulltime employment results along part-time employment data. No official data is due in New Zealand.
AUD/NZD Technical Levels
Price action reveals the consolidation of a reversal after a few hours of parallel action. Having fallen below immediate support to hit 1.1320 lows, the pair pulled off a rebound and re-position itself in between previous boundaries. Offered at 1.1364, it navigates between the supports aligned at 1.1341 (October 16th highs), 1.13 (October 16th lows) ahead of 1.1263 (October 2nd lows) and the resistances set at 1.14 (October 18th highs), 1.1434 (November 4th lows) followed by 1.1474 (November 1st highs).