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24 Aug 2015
AUD/NZD on a minor recovery of heavy downside
FXStreet (Guatemala) - AUD/NZD is currently trading 1.0971 with a high of 1.0978 and a low of 1.0917.
AUD/NZD has been better bid in the events of the open of this Asian week. The risk-off environment has been a challenge to the Aussie and Kiwi that are both down over 50 pips while the bird has taken the biggest bout of supply and leaves the cross testing the upside of the resistance of last week's consolidation of the downside.
China taking the spotlight
We are starting to see some support and strength from the committed Bulls in Tokyo here, with the PBoC setting the Yuan ref rate at 6.3862 vs 6.3864 on Friday and the Hang Seng opening down 3.6% despite the news over the weekend of China looking at taking measures to support the stock market. We will now look ahead for RBNZ inflation expectations, RBA's Stevens speech and the liquidity from European and US sessions and subsequent data releases.
AUD/NZD is making a minor recovery of broader downtrend from the 1.13 handle, while the 1.0910 level remains in focus on a follow through to close the bullish gap of mid June. To the upside, 1.1090 is key resistance through 1.1050.
AUD/NZD has been better bid in the events of the open of this Asian week. The risk-off environment has been a challenge to the Aussie and Kiwi that are both down over 50 pips while the bird has taken the biggest bout of supply and leaves the cross testing the upside of the resistance of last week's consolidation of the downside.
China taking the spotlight
We are starting to see some support and strength from the committed Bulls in Tokyo here, with the PBoC setting the Yuan ref rate at 6.3862 vs 6.3864 on Friday and the Hang Seng opening down 3.6% despite the news over the weekend of China looking at taking measures to support the stock market. We will now look ahead for RBNZ inflation expectations, RBA's Stevens speech and the liquidity from European and US sessions and subsequent data releases.
AUD/NZD is making a minor recovery of broader downtrend from the 1.13 handle, while the 1.0910 level remains in focus on a follow through to close the bullish gap of mid June. To the upside, 1.1090 is key resistance through 1.1050.