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27 Aug 2013
AUD/NZD testing support above 1.1500
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1490 bids, off recent double weekly lows at 1.1478, retracing from yesterday's/Friday's double fresh 1-month high at 1.1607 printed on the back of Kiwi weakness.
AUD/NZD has room to move higher
According to FXWW founder Sean Lee: “AUD/NZD support levels start at 1.1465.” As for IFRMarkets the cross has room to move higher, “though last 2 approaches of 50-DMA/TC top met with reversals back below 10-DMA (1.1408)", analysts said. AUD/NZD is still down more than -8% year to date.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Thursday's highs 1.1546, followed by early Monday's/Friday's highs at 1.1603/09, and July 03 lows at 1.1645. To the downside, closest support lies at recent session lows 1.1478/80, followed by August 12 highs at 1.1462, and July 25 lows at 1.1395.
AUD/NZD has room to move higher
According to FXWW founder Sean Lee: “AUD/NZD support levels start at 1.1465.” As for IFRMarkets the cross has room to move higher, “though last 2 approaches of 50-DMA/TC top met with reversals back below 10-DMA (1.1408)", analysts said. AUD/NZD is still down more than -8% year to date.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Thursday's highs 1.1546, followed by early Monday's/Friday's highs at 1.1603/09, and July 03 lows at 1.1645. To the downside, closest support lies at recent session lows 1.1478/80, followed by August 12 highs at 1.1462, and July 25 lows at 1.1395.