Back
6 Aug 2013
AUD/NZD, fasten your seat-belts time? Turbulence ahead…
FXstreet.com (Chicago) - AUD/NZD has accumulated 15 pips or 0.10% losses so far since the NY close, with price continuing to print lower lows and lower highs since the 1.15 upside gap from earlier this week.
Fundamental facts indicated a weaker-than-expected trade balance as 602M failed to reach expected 800M. Similarly, job data evidenced a significant drop as -6.8% was weighted against a previous -1.8% in ANZ Job Advertisements growth. Nonetheless, the yearly housing price index was 5.1% compared to an expected 3.0%. Hours away from the RBA interest rate decision, the markets trades cushioned on the downside by 1.1350.
Technically speaking, the FXstreet trend index reported the pair as strongly bearish on one-hour timeframe analysis. Trading at 1.1394, the price oscillated between supports at 1.1372 (July 30 highs), 1.1351 (August 1st highs) followed by 1.1310 (July 31st highs) and resistances at 1.1396 (August 2nd highs), 1.1408 (July 25 lows) ahead of 1.1438 (July 26 lows).
Fundamental facts indicated a weaker-than-expected trade balance as 602M failed to reach expected 800M. Similarly, job data evidenced a significant drop as -6.8% was weighted against a previous -1.8% in ANZ Job Advertisements growth. Nonetheless, the yearly housing price index was 5.1% compared to an expected 3.0%. Hours away from the RBA interest rate decision, the markets trades cushioned on the downside by 1.1350.
Technically speaking, the FXstreet trend index reported the pair as strongly bearish on one-hour timeframe analysis. Trading at 1.1394, the price oscillated between supports at 1.1372 (July 30 highs), 1.1351 (August 1st highs) followed by 1.1310 (July 31st highs) and resistances at 1.1396 (August 2nd highs), 1.1408 (July 25 lows) ahead of 1.1438 (July 26 lows).