24 Jul 2013
AUD/NZD above 1.16 ahead of Aus CPI
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last quoted at 1.1612 bids, off daily lows at 1.1570 printed in early London trade, ahead of key risk event today for Australia in the form of CPI at 01:30 GMT.
AUD/NZD support still expected near 1.1500
“I’m still hearing that there will be good support near 1.1500 in the Antipodean cross, might be a barrier but that’s a guess on my part,” said FXWW founder Sean Lee, adding: “Resistance levels are very clear above 1.1750 and with range trading favoured, we might get some decent swing trading opportunities.”
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at current levels as session highs/July 10 lows 1.1633, followed by July 03 lows at 1.1645, and Monday's weekly highs at 1.1666. To the downside, closest support lies at July 11 lows 1.1615, followed by July 12/18/Tuesday's lows at 1.1579/70, and double Friday's/Monday's weekly lows at 1.1539.
AUD/NZD support still expected near 1.1500
“I’m still hearing that there will be good support near 1.1500 in the Antipodean cross, might be a barrier but that’s a guess on my part,” said FXWW founder Sean Lee, adding: “Resistance levels are very clear above 1.1750 and with range trading favoured, we might get some decent swing trading opportunities.”
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at current levels as session highs/July 10 lows 1.1633, followed by July 03 lows at 1.1645, and Monday's weekly highs at 1.1666. To the downside, closest support lies at July 11 lows 1.1615, followed by July 12/18/Tuesday's lows at 1.1579/70, and double Friday's/Monday's weekly lows at 1.1539.