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28 Nov 2013
AUD/NZD retakes the 1.12 on intense weekly battle
FXstreet.com (Chicago) - AUD/NZD retakes the 1.12 front after a heavy week for the pair and shortly after the release of NZ data with October Building Permits s.a. (MoM) down to -0.6% vs. prior 1.4%.
AUD/NZD Technical Levels
After stalling around 5-year lows for days, the pair was finally fueled higher to print higher highs and lows to consolidate an upward trendline that remains respected. Rejected by the 1.12 front on strong resistance, the pair seems to manifest a doji candle pattern right above the 1.12 zone. Technically speaking, the pair is offered at 1.12 and oscillates between the supports aligned at 1.1177 (November 25th highs), 1.1111 (November 26th lows) ahead of 1.1047 (October 1st 2006 lows) and the resistances set at 1.12 (November 18th lows), 1.1241 (November 19th lows) followed by 1.1310 (November 20th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
AUD/NZD Technical Levels
After stalling around 5-year lows for days, the pair was finally fueled higher to print higher highs and lows to consolidate an upward trendline that remains respected. Rejected by the 1.12 front on strong resistance, the pair seems to manifest a doji candle pattern right above the 1.12 zone. Technically speaking, the pair is offered at 1.12 and oscillates between the supports aligned at 1.1177 (November 25th highs), 1.1111 (November 26th lows) ahead of 1.1047 (October 1st 2006 lows) and the resistances set at 1.12 (November 18th lows), 1.1241 (November 19th lows) followed by 1.1310 (November 20th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.