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7 Oct 2013
AUD/NZD continuing recent rally to start the week; 1.1383 is closing resistance
FXstreet.com (Barcelona) - The AUD/NZD cross has been on the rise in recent days and is continuing that trend early this week. Correction resistance comes in at 1.1383, though.
AUD/NZD traders to key off data this week
AUD/NZD traders will get to trade off the following data points and news items this week:
• Monday – Aussie Performance of Construction Index (already out better than expectations)
• Tuesday – Australia Business Confidence data; New Zealand Electronic Card Retail Sales; Australian Consumer Confidence
• Wednesday – New Zealand Business PMI
• Thursday – Aussie Consumer Inflation data; Australian employment data
• Friday – No market-moving data
Technical outlook for AUD/NZD
Technicians say AUD/NZD has its first resistance at 1.1383 with 1.1436 backing that up. Support, below which any trading would be considered very bearish, comes in at 1.12135.
AUD/NZD traders to key off data this week
AUD/NZD traders will get to trade off the following data points and news items this week:
• Monday – Aussie Performance of Construction Index (already out better than expectations)
• Tuesday – Australia Business Confidence data; New Zealand Electronic Card Retail Sales; Australian Consumer Confidence
• Wednesday – New Zealand Business PMI
• Thursday – Aussie Consumer Inflation data; Australian employment data
• Friday – No market-moving data
Technical outlook for AUD/NZD
Technicians say AUD/NZD has its first resistance at 1.1383 with 1.1436 backing that up. Support, below which any trading would be considered very bearish, comes in at 1.12135.