Back
14 Aug 2013
AUD/NZD kept by 20-D EMA, 1.15 convergence; rally to resume?
FXstreet.com (Chicago) - AUD/NZD accumulates 0.60% losses so far as kiwi remains in hot demand.
NZ retail sales data boosted bullish sentiment towards the kiwi that extended throughout Wednesday’s session. The Aussie weakened against a strong kiwi across most major currencies.
Ahead of the Business NZ PMI publication for July, the pair trades at 1.1363 between supports at 1.1358 (July 31st highs), 1.1343 (July 28th lows) followed by 1.1325 (August 1st highs) and resistances at 1.1369 (July 29th highs), 1.1378 (August 6th highs) ahead of 1.1387 (August 9th highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis as it trades below EMA20.
NZ retail sales data boosted bullish sentiment towards the kiwi that extended throughout Wednesday’s session. The Aussie weakened against a strong kiwi across most major currencies.
Ahead of the Business NZ PMI publication for July, the pair trades at 1.1363 between supports at 1.1358 (July 31st highs), 1.1343 (July 28th lows) followed by 1.1325 (August 1st highs) and resistances at 1.1369 (July 29th highs), 1.1378 (August 6th highs) ahead of 1.1387 (August 9th highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis as it trades below EMA20.