24 Jan 2014
AUD/NZD bears are running the show today
FXstreet.com (Barcelona) - AUD/NZD is consolidating with the downside bias as the cross opened the day at 1.0585 and moved down to the current level 1.0566.
NZD gets ready for RBNZ meeting
New Zealand manufacturing PMI and ANZ Consumer Confidence confirmed positive underlying fundamentals of New Zealand economy. Looks like we are well prepared for the next week RBNZ meeting. The focus on the Central Bank monetary policy decision gives NZD an advantage before the AUD. Though the RBNZ is not expected to raise rates next week it is obviously more hawkish than its Australian counterpart. AUD/NZD sentiment is deeply bearish as long as the cross stays below 1.0600. We have a good chance to see it testing 1.0500 which is considered to be the key support now. The resistance comes at 1.0585, once it is broken the cross may accelerate to 1.0600, which will cap the upside.
What are today’s key AUD/NZD levels?
Today's central pivot point can be found at 1.0585, with support below at 1.0498, 1.0445 and 1.0358, with resistance above at 1.0638, 1.0725 and 1.0778. Hourly Moving Averages are mixed, with the 200SMA at 1.0674 and the daily 20EMA at 1.0727. Hourly RSI is neutral at 48.
NZD gets ready for RBNZ meeting
New Zealand manufacturing PMI and ANZ Consumer Confidence confirmed positive underlying fundamentals of New Zealand economy. Looks like we are well prepared for the next week RBNZ meeting. The focus on the Central Bank monetary policy decision gives NZD an advantage before the AUD. Though the RBNZ is not expected to raise rates next week it is obviously more hawkish than its Australian counterpart. AUD/NZD sentiment is deeply bearish as long as the cross stays below 1.0600. We have a good chance to see it testing 1.0500 which is considered to be the key support now. The resistance comes at 1.0585, once it is broken the cross may accelerate to 1.0600, which will cap the upside.
What are today’s key AUD/NZD levels?
Today's central pivot point can be found at 1.0585, with support below at 1.0498, 1.0445 and 1.0358, with resistance above at 1.0638, 1.0725 and 1.0778. Hourly Moving Averages are mixed, with the 200SMA at 1.0674 and the daily 20EMA at 1.0727. Hourly RSI is neutral at 48.