1 Aug 2013
AUD/NZD supported so far at the 1.12 handle
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1256 bids, off recent session and fresh 4.5-year lows at 1.1193, following better than expected China Manufacturing PMI at 50.3.
AUD/NZD bias down persisting
“This morning’s initial sell-off has been stalled by some decent bids which appeared below .8950” in AUD/USD, said FXWW founder Sean Lee, adding: “It still looks soft but keep an eye on AUD/NZD as well, with solid bids reported below 1.1200." For IFRMarkets analysts, “Bears remain in control and the down trend's pace picks up." According to them, “RSIs across many time frames are biased down with no divergence,” while Bollinger bands widening are suggesting the slide will persist, IFRMarkets said.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at recent session/4.5-year lows at 1.1193, followed by March 2007 lows at 1.1189, and December 2007 lows at 1.1145. To the upside, closest resistance shows at recent session highs 1.1286, followed by Monday's lows at 1.1322, and yesterday's highs at 1.1358.
AUD/NZD bias down persisting
“This morning’s initial sell-off has been stalled by some decent bids which appeared below .8950” in AUD/USD, said FXWW founder Sean Lee, adding: “It still looks soft but keep an eye on AUD/NZD as well, with solid bids reported below 1.1200." For IFRMarkets analysts, “Bears remain in control and the down trend's pace picks up." According to them, “RSIs across many time frames are biased down with no divergence,” while Bollinger bands widening are suggesting the slide will persist, IFRMarkets said.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at recent session/4.5-year lows at 1.1193, followed by March 2007 lows at 1.1189, and December 2007 lows at 1.1145. To the upside, closest resistance shows at recent session highs 1.1286, followed by Monday's lows at 1.1322, and yesterday's highs at 1.1358.