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8 Oct 2013
AUD/NZD whipsawing below 1.1360 zone?
FXstreet.com (Chicago) - AUD/NZD fell below the 1.13 zone to snap back above it and reach the 1.1360 zone momentarily on heavy buying ahead of Australian data and after NZ released its NZIER business confidence results.
Ahead of Australian data due later today and after the NZIER business confidence results at 38% vs. past 32%, market participants also wait for Chinese data with potential direct impact on the pair’s performance.
AUD/NZD Technical Levels
Technically speaking, the pair trades at 1.1358 and oscillates between supports aligned at 1.1337 (September 11th lows), 1.1294 (September 18th lows) ahead of 1.1264 (October 3rd lows) and the resistances set at 1.1392 (September 24th highs), 1.1437 (August 28th lows) followed by 1.1478 (September 8th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.
Ahead of Australian data due later today and after the NZIER business confidence results at 38% vs. past 32%, market participants also wait for Chinese data with potential direct impact on the pair’s performance.
AUD/NZD Technical Levels
Technically speaking, the pair trades at 1.1358 and oscillates between supports aligned at 1.1337 (September 11th lows), 1.1294 (September 18th lows) ahead of 1.1264 (October 3rd lows) and the resistances set at 1.1392 (September 24th highs), 1.1437 (August 28th lows) followed by 1.1478 (September 8th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis above the EMA20.