Back
31 Oct 2013
AUD/NZD tamed close to 1.1430 support
FXstreet.com (Chicago) - AUD/NZD extends trendless price action below the 1.1450 zone ahead of Tokyo’s opening and Australian AiG performance of Mfg index results.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1437 and navigates slightly higher than immediate support at 1.1434 (October 10th highs) that if broken, will be followed by 1.1395 (September 24th highs) and 1.1341 (October 17th highs). On the upside, resistances are aligned at 1.1478 (September 8th highs), 1.1517 (October 29th highs) followed by 1.1554 (September 10th highs). On monthly and weekly charts, primary and secondary trends diverge with the latter pointing down and supported by a shorter-term trend on daily charts. After retracing from the 1.1550 resistance (double tops with last mid-September), the pair seems to find grounds around the 38.2% Fibonacci level.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1437 and navigates slightly higher than immediate support at 1.1434 (October 10th highs) that if broken, will be followed by 1.1395 (September 24th highs) and 1.1341 (October 17th highs). On the upside, resistances are aligned at 1.1478 (September 8th highs), 1.1517 (October 29th highs) followed by 1.1554 (September 10th highs). On monthly and weekly charts, primary and secondary trends diverge with the latter pointing down and supported by a shorter-term trend on daily charts. After retracing from the 1.1550 resistance (double tops with last mid-September), the pair seems to find grounds around the 38.2% Fibonacci level.