30 Jan 2015
AUD/NZD slide running its course? - TDS
FXStreet (Guatemala) - Analysts at TD Securities said that AUD/NZD’s late 2014 slide may have run its course through the early part of the New Year; Since basing at 1.0361 in early January.
Key Quotes:
"The fact that the AUD turned higher from around the same area as the early 2014 low and that the 2015 low was marked by a large weekly “doji” candle suggests that an important, short-term base is in"
"The rebound in the AUD to 1.07 is very close to the pivotal 1.08/1.09 area that governed the trend in the cross through H2 last year. From here, we think the AUD can nudge a little higher but we rather think, the cross will struggle to push back above the 1.0950/00 area in the weeks ahead."
Key Quotes:
"The fact that the AUD turned higher from around the same area as the early 2014 low and that the 2015 low was marked by a large weekly “doji” candle suggests that an important, short-term base is in"
"The rebound in the AUD to 1.07 is very close to the pivotal 1.08/1.09 area that governed the trend in the cross through H2 last year. From here, we think the AUD can nudge a little higher but we rather think, the cross will struggle to push back above the 1.0950/00 area in the weeks ahead."