11 Apr 2014
AUD/NZD relentless but overbought?
FXStreet (Guatemala) - AUD/NZD is trading at 1.0855, up 0.14% on the day, having posted a daily high at 1.0861 and low at 1.0836.
AUD/NZD has continued on with the 1.08 handle and is popping up on a spike from 1.0840 to print the new highs. The Australian dollar is relentless and there are positive backdrops in the Australian economy, (most recent were the labour markets upside surprises) which are underpinning its strength. However, the FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/NZD Levels (1hr Doji)
Spot is presently trading at 1.0858, and next resistance can be seen at 1.0861 (Daily High), 1.0882 (Weekly Classic R1), 1.0882 (YTD High), 1.0884 (Daily Classic R3) and 1.0958 (Weekly Classic R2). Next support to the downside can be found at 1.0854 (Daily Classic R2), 1.0846 (Yesterday's High), 1.0842 (Monthly High), 1.0842 (Weekly High) and 1.0841 (Daily Open). Regarding candlestick formations, we can see Doji formation on the 1-hour.
AUD/NZD has continued on with the 1.08 handle and is popping up on a spike from 1.0840 to print the new highs. The Australian dollar is relentless and there are positive backdrops in the Australian economy, (most recent were the labour markets upside surprises) which are underpinning its strength. However, the FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
AUD/NZD Levels (1hr Doji)
Spot is presently trading at 1.0858, and next resistance can be seen at 1.0861 (Daily High), 1.0882 (Weekly Classic R1), 1.0882 (YTD High), 1.0884 (Daily Classic R3) and 1.0958 (Weekly Classic R2). Next support to the downside can be found at 1.0854 (Daily Classic R2), 1.0846 (Yesterday's High), 1.0842 (Monthly High), 1.0842 (Weekly High) and 1.0841 (Daily Open). Regarding candlestick formations, we can see Doji formation on the 1-hour.