Back
11 Sep 2013
AUD/NZD strong on data release; targets 1.1540 consolidation
FXstreet.com (Chicago) - AUD/NZD prints higher lows after the release of Australian data and prior to President Obama’s announcement on Syrian conflict updates.
The Westpac consumer confidence results were 4.7% vs. past 3.5% in Australia while the index was 110.6 vs. past 105.7. Price action reveals market participants reacted like yesterday when the NAB business confidence index was released (at 6 vs. past -3), pushing the pair higher to print 1.1547 session highs.
Trading at 1.1545, the pair navigates between the supports aligned at 1.1513 (August 30th highs), 1.1475 (September 8th lows) ahead of 1.1432 (August 28th lows) and the resistances at 1.1584 (August 23rd highs), 1.1642 (July 22nd highs) followed by 1.1694 (July 15th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe and is offered above the EMA20.
The Westpac consumer confidence results were 4.7% vs. past 3.5% in Australia while the index was 110.6 vs. past 105.7. Price action reveals market participants reacted like yesterday when the NAB business confidence index was released (at 6 vs. past -3), pushing the pair higher to print 1.1547 session highs.
Trading at 1.1545, the pair navigates between the supports aligned at 1.1513 (August 30th highs), 1.1475 (September 8th lows) ahead of 1.1432 (August 28th lows) and the resistances at 1.1584 (August 23rd highs), 1.1642 (July 22nd highs) followed by 1.1694 (July 15th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe and is offered above the EMA20.