23 Oct 2013
AUD/NZD rallying hard on hot Aussie CPI data; 1.1488 is closing resistance
FXstreet.com (Barcelona) - The AUD/NZD has been consistently blowing through resistance levels since it made its low on 9/23. The 61.8% retracement of the 9/4 9/23 decline at 1.1488 is the next hurdle for the cross.
AUD/NZD traders getting a healthy serving of upside volatility thanks to Aussie data
AUD/NZD traders are reacting to bearish Aussie Leading Indicators and bullish Aussie inflation data that were just released in the last couple of hours. The AUD/NZD dipped slightly on the sluggish reading from the Leading Indicators but absolutely ripped higher on the hot inflation data.
Later Wednesday - actually into Thursday’s session – New Zealand’s Trade Balance data will be released.
Technical outlook for AUD/NZD
Technicians say AUD/NZD has its first resistance at 1.1488 with the September peak at 1.1659 backing that up. The first two levels of support for AUD/NZD come in at Tuesday’s low of 1.1385 and the 10/14 low at 1.1297.
AUD/NZD traders getting a healthy serving of upside volatility thanks to Aussie data
AUD/NZD traders are reacting to bearish Aussie Leading Indicators and bullish Aussie inflation data that were just released in the last couple of hours. The AUD/NZD dipped slightly on the sluggish reading from the Leading Indicators but absolutely ripped higher on the hot inflation data.
Later Wednesday - actually into Thursday’s session – New Zealand’s Trade Balance data will be released.
Technical outlook for AUD/NZD
Technicians say AUD/NZD has its first resistance at 1.1488 with the September peak at 1.1659 backing that up. The first two levels of support for AUD/NZD come in at Tuesday’s low of 1.1385 and the 10/14 low at 1.1297.