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12 Aug 2013
AUD/NZD capped so far below 1.1450
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1425 bids, slightly below previous weekly close Friday, on the back of early NZD rising after lower than expected NZ food price index.
AUD/NZD looks likely top test 1.15
“This is not a pair I trade, having lost enough for this life-time on the NZD, but I do think there is decent risk-reward for the intraday bears,” said FXWW founder Sean Lee, adding: “AUD/NZD is in recovery mode and looks likely to test 1.1500 if not 1.1550, whilst AUD/USD looks toppy near .9210.”
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Thursday's highs 1.1451, followed by July 29 highs at 1.1486, and August 05 highs at 1.1520 To the downside, closest support lies at July 25 lows 1.1394, followed by August 06 lows at 1.1353, and August 08 lows 1.1328.
AUD/NZD looks likely top test 1.15
“This is not a pair I trade, having lost enough for this life-time on the NZD, but I do think there is decent risk-reward for the intraday bears,” said FXWW founder Sean Lee, adding: “AUD/NZD is in recovery mode and looks likely to test 1.1500 if not 1.1550, whilst AUD/USD looks toppy near .9210.”
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Thursday's highs 1.1451, followed by July 29 highs at 1.1486, and August 05 highs at 1.1520 To the downside, closest support lies at July 25 lows 1.1394, followed by August 06 lows at 1.1353, and August 08 lows 1.1328.