Back
10 Jul 2013
AUD/NZD holding above key bid line 1.1650
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last quoted at 1.1690, off early NY session weekly lows at 1.1644, ahead of key Australian Westpac consumer confidence at 00:30 GMT and Chinese trade balance later in the session.
AUD/NZD support at 1.1650 key now
The cross is down -0.55% so far for the week, mostly on the back of Kiwi strength, following yesterday's RBNZ governor's words, as Aussie has also recovered some ground across the board. According to IFR Markets, AUD/NZD's “bearishly aligned 10 & 21 DMA's bolster the bear view,” pointing to a break below the 1.1650 mark in order to accelerate the slide.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at mentioned NY session weekly lows and past Wed/Thur/Fri lows 1.1651/45, followed by Dec 2008 lows at 1.1636, and June 2003 highs at 1.1596. To the upside, closest resistance shows at yesterday's highs 1.1720, followed by July 02 lows at 1.1760, and Monday's weekly highs at 1.1768.
AUD/NZD support at 1.1650 key now
The cross is down -0.55% so far for the week, mostly on the back of Kiwi strength, following yesterday's RBNZ governor's words, as Aussie has also recovered some ground across the board. According to IFR Markets, AUD/NZD's “bearishly aligned 10 & 21 DMA's bolster the bear view,” pointing to a break below the 1.1650 mark in order to accelerate the slide.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at mentioned NY session weekly lows and past Wed/Thur/Fri lows 1.1651/45, followed by Dec 2008 lows at 1.1636, and June 2003 highs at 1.1596. To the upside, closest resistance shows at yesterday's highs 1.1720, followed by July 02 lows at 1.1760, and Monday's weekly highs at 1.1768.