15 Nov 2013
AUD/NZD bracing for reversal?
FXstreet.com (Chicago) - AUD/NZD attempts to get out of 6-week lows after breaking the downward channel that started last October 28th.
Ahead of Chinese data release with potential repercussion on the pair’s price action, the Aussie strengthens against a weaker kiwi attempting a reversal after steady fall from the 1.30 zone earlier in the week.
AUD/NZD Technical Levels
Offered at 1.1266, the pair oscillates between the supports aligned at 1.1245 (October 2nd lows), 1.12 (September 30th lows) followed by 1.1139 (October 2nd lows) and the resistances aligned at 1.1312 (October 17th lows), 1.1382 (November 9th highs) followed by 1.1446 (October 10th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and navigates below the EMA20.
Ahead of Chinese data release with potential repercussion on the pair’s price action, the Aussie strengthens against a weaker kiwi attempting a reversal after steady fall from the 1.30 zone earlier in the week.
AUD/NZD Technical Levels
Offered at 1.1266, the pair oscillates between the supports aligned at 1.1245 (October 2nd lows), 1.12 (September 30th lows) followed by 1.1139 (October 2nd lows) and the resistances aligned at 1.1312 (October 17th lows), 1.1382 (November 9th highs) followed by 1.1446 (October 10th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and navigates below the EMA20.