11 Oct 2013
AUD/NZD stretches to 1.1435 highs but retraces
FXstreet.com (Chicago) - AUD/NZD was able to reach the 1.1435 zone on Aussie’s strengthening on light data day for Asia. The pair attempts to consolidate above the 1.1420 zone after retracing from session highs.
Momentum
Job’s data from yesterday certainly generated a lot of momentum for the Aussie that is now attempting to break through the 1.1430 strong resistance. After printing double bottoms culminated last week, the pair reveals a potential reversal as indicated by primary and secondary trends pointing up. With no Australian or New Zealander data coming in, the pair is expected to extend momentum.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1423 and oscillates between supports aligned at 1.14 (October 7th highs), 1.1335 (October 3rd highs) ahead of 1.13 (September 27th highs) and the resistances set at 1.1432 (September 13th highs), 1.1464 (September 5th lows) followed by 1.1531 (September 9th highs). Extending the upward trendline that started last October 2nd, the pair retests yesterday highs printing 1.1435 session highs. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Momentum
Job’s data from yesterday certainly generated a lot of momentum for the Aussie that is now attempting to break through the 1.1430 strong resistance. After printing double bottoms culminated last week, the pair reveals a potential reversal as indicated by primary and secondary trends pointing up. With no Australian or New Zealander data coming in, the pair is expected to extend momentum.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1423 and oscillates between supports aligned at 1.14 (October 7th highs), 1.1335 (October 3rd highs) ahead of 1.13 (September 27th highs) and the resistances set at 1.1432 (September 13th highs), 1.1464 (September 5th lows) followed by 1.1531 (September 9th highs). Extending the upward trendline that started last October 2nd, the pair retests yesterday highs printing 1.1435 session highs. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.