5 Jun 2015
AUD/NZD: A last dance before the week is out?
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0789 with a high of 1.008 and low of 1.0732.
AUD/NZD has been a sideways play with both currencies facing bouts of strength in the greenback while the NZD has been outperforming from the trade off in the cross down from the 1.09 handle until 1.0762 lows reached today.
The downside is looking as a bottom here on an extension of the body of the hourly candle below the sell off's last stick while closing higher, signalling that this bottom was forming at this juncture in the hammer formation.
We are in a period of consolidation ahead of today's key data which is ">Nonfarm Payrolls in the US shift. This data will be keenly watched and could be the last catalyst left for the week to shake up the cross and signal where the commitments are lying between the bulls and the bears.
AUD/NZD has been a sideways play with both currencies facing bouts of strength in the greenback while the NZD has been outperforming from the trade off in the cross down from the 1.09 handle until 1.0762 lows reached today.
The downside is looking as a bottom here on an extension of the body of the hourly candle below the sell off's last stick while closing higher, signalling that this bottom was forming at this juncture in the hammer formation.
We are in a period of consolidation ahead of today's key data which is ">Nonfarm Payrolls in the US shift. This data will be keenly watched and could be the last catalyst left for the week to shake up the cross and signal where the commitments are lying between the bulls and the bears.