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17 Sep 2013
AUD/NZD defending the 1.14 handle ahead of RBA
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is currently trading at 1.1397 bids about flat so far for the week, ahead of RBA meeting minutes at 01:30 GMT.
AUD/NZD suggests consolidation
According to IFRMarkets analyst Andrew Spencer the “setup suggests consolidation,” with fundamentals and central bank policies favoring downtrend. “Contracting 1.1355 lower Bolli initial support - then Aug 1.1270 low,” Spencer added.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Friday's highs 1.1408, followed by recent session highs at 1.1418, and Monday's weekly highs at 1.1453. To the downside, closest support lies at Monday's weekly lows and Thur/Fri lows 1.1332/26, followed by August 16 lows at 1.1273, and August 08/19 at 1.1262/60.
AUD/NZD suggests consolidation
According to IFRMarkets analyst Andrew Spencer the “setup suggests consolidation,” with fundamentals and central bank policies favoring downtrend. “Contracting 1.1355 lower Bolli initial support - then Aug 1.1270 low,” Spencer added.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Friday's highs 1.1408, followed by recent session highs at 1.1418, and Monday's weekly highs at 1.1453. To the downside, closest support lies at Monday's weekly lows and Thur/Fri lows 1.1332/26, followed by August 16 lows at 1.1273, and August 08/19 at 1.1262/60.