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20 Sep 2013
AUD/NZD cracked down to 1.1256 7-week lows
FXstreet.com (Chicago) - AUD/NZD plunged to 1.1257 session lows with the strengthening of the kiwi prior to Tokyo’s opening. No expected Australian data is due today and NZ just released its last results for the week.
A better than expected GDP growth in NZ at 2.5% (YoY) vs. expected 2.1%, seems to remain on market participants’ psyches. With no action in China due to holiday and no official data due in Australia and NZ, pair fluctuations may be the reminiscences of past results or unplanned events.
AUD/NZD Technical Levels
At 6.2% visitors arrivals increased from past 5.9% in New Zealand. The pair continues printing session lows, breaking below a previous support zone around 1.1280. Facing the grounds, the 1.1239 support follows (July 30th lows) ahead of 1.1198 (July 31st lows) and 1.1154 (November 11th 2007 lows). On the upside, resistances are aligned at 1.1280 (August 15th lows), 1.1327 (September 19th highs) followed by 1.1380 (September 11th lows). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis below the EMA20.
A better than expected GDP growth in NZ at 2.5% (YoY) vs. expected 2.1%, seems to remain on market participants’ psyches. With no action in China due to holiday and no official data due in Australia and NZ, pair fluctuations may be the reminiscences of past results or unplanned events.
AUD/NZD Technical Levels
At 6.2% visitors arrivals increased from past 5.9% in New Zealand. The pair continues printing session lows, breaking below a previous support zone around 1.1280. Facing the grounds, the 1.1239 support follows (July 30th lows) ahead of 1.1198 (July 31st lows) and 1.1154 (November 11th 2007 lows). On the upside, resistances are aligned at 1.1280 (August 15th lows), 1.1327 (September 19th highs) followed by 1.1380 (September 11th lows). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis below the EMA20.