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22 Oct 2013
AUD/NZD losing momentum at 1.1420 peaks
FXstreet.com (Chicago) - AUD/NZD was capped at 1.1430 and stalls below the 1.1420 despite minimal advances against the kiwi today on light Asian session data-wise.
The only data to be released during the Asian session today was recently published with the CB leading economic index for September in China at 0.9 vs. past 0.7 and house price indexes at 9.1% vs. past 8.3%. The pair seemed to react in favor of the kiwi but higher highs continue to be printed so far.
AUD/NZD Technical Levels
Technically speaking, the pair extends the bullish channel starting last October 17th displaying peaks yesterday around the 1.1440 zone forming potential for further spikes. Stalling above the EMA20, the pair is offered at 1.1420 and oscillates between the supports aligned at 1.1351 (October 18th lows), 1.13 (October 17th lows) ahead of 1.1265 (October 3rd lows) and the resistances set at 1.14 (September 18th highs), 1.1430 (October 12th highs) followed by 1.1464 (September 6th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish.
The only data to be released during the Asian session today was recently published with the CB leading economic index for September in China at 0.9 vs. past 0.7 and house price indexes at 9.1% vs. past 8.3%. The pair seemed to react in favor of the kiwi but higher highs continue to be printed so far.
AUD/NZD Technical Levels
Technically speaking, the pair extends the bullish channel starting last October 17th displaying peaks yesterday around the 1.1440 zone forming potential for further spikes. Stalling above the EMA20, the pair is offered at 1.1420 and oscillates between the supports aligned at 1.1351 (October 18th lows), 1.13 (October 17th lows) ahead of 1.1265 (October 3rd lows) and the resistances set at 1.14 (September 18th highs), 1.1430 (October 12th highs) followed by 1.1464 (September 6th lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish.