13 Dec 2013
AUD/NZD attempted the upside meeting supply
FXstreet.com (London) - AUD/NZD has met yet further supply on the attempt to recover from the lows on the session reaching 1.0892 before dropping back to 1.0860.
AUD/NZD was extending the downside when Glenn Stevens surprised markets with his overall dovish tone overnight suggesting the economy would be doing better if the currency were trading closer to 0.8500. There was nothing on the calendar today from Australia but New Zealand Business NZ PMI for November came in at 56.7.
AUD/NZD Levels
AUD/NZD RSI (14) reads 59.71 with the EMA’s offering a bullish bias for the pair. 1.0988 marks the pivot where the pair is trading well beyond to the downside. SMA 100 at 1.0877 offers a resistance zone while the high is 1.0892.
AUD/NZD was extending the downside when Glenn Stevens surprised markets with his overall dovish tone overnight suggesting the economy would be doing better if the currency were trading closer to 0.8500. There was nothing on the calendar today from Australia but New Zealand Business NZ PMI for November came in at 56.7.
AUD/NZD Levels
AUD/NZD RSI (14) reads 59.71 with the EMA’s offering a bullish bias for the pair. 1.0988 marks the pivot where the pair is trading well beyond to the downside. SMA 100 at 1.0877 offers a resistance zone while the high is 1.0892.