9 Apr 2015
AUD/NZD: Downside pressures mount for parity?
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0172 with a high of 1.0216 and a low of 1.0162.
AUD/NZD is consolidated of the lows close to parity scored in the early stages of April trade, with 1.0200's being an area of supply that keeps the pair capped down to the lower end of the channel's range of circa 1.0140. The FOMC minutes left the cross stuck within the range as the dollar advances across the board, albeit with the bulls recording a victory at last week's close leaving the cross neutral in a broader bearish trend.
AUD/NZD is technically in neutral territory but the bears are in control on a broader picture, with 1.0100 a sticky area below the pivot that would reveal the less committed bulls on a long squeeze on further bouts of supply and in an extension of the 1.10 downtrend.
AUD/NZD is consolidated of the lows close to parity scored in the early stages of April trade, with 1.0200's being an area of supply that keeps the pair capped down to the lower end of the channel's range of circa 1.0140. The FOMC minutes left the cross stuck within the range as the dollar advances across the board, albeit with the bulls recording a victory at last week's close leaving the cross neutral in a broader bearish trend.
AUD/NZD is technically in neutral territory but the bears are in control on a broader picture, with 1.0100 a sticky area below the pivot that would reveal the less committed bulls on a long squeeze on further bouts of supply and in an extension of the 1.10 downtrend.