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18 Jul 2013
AUD/NZD pares losses to trade positively
FXstreet.com (New York) - The AUD/NZD technical cross has recovered its scant losses Thursday morning during Asian trading, having rebounded in recent moments and moved back into positive territory.
AUD/NZD event risk
In Australia, the CB Leading Indicator (May) was reported at 0.0%, relative to a figure of +0.3% previously. Later today at 1:30 GMT, Australia will also release additional data, though neither is expected to cause a large degree of volatility with the cross.
AUD/NZD strategic bias
In these moments, the AUD/NZD has now stabilized in the area of 1.1680, presently recording a tepid advance of +0.03% after Australian data. In terms of the technicals, the cross remains clung to the 20-day SMA, and will face resistive means at 1.1688 (55-day MA), onto 1.1703 (200-day SMA), and 1.1731 (July 16 high). Conversely, the AUD/NZD will encounter support at 1.1658 (July 17 low), ahead of 1.1636 (July 16 low), and 1.1626 (July 15 low).
AUD/NZD event risk
In Australia, the CB Leading Indicator (May) was reported at 0.0%, relative to a figure of +0.3% previously. Later today at 1:30 GMT, Australia will also release additional data, though neither is expected to cause a large degree of volatility with the cross.
AUD/NZD strategic bias
In these moments, the AUD/NZD has now stabilized in the area of 1.1680, presently recording a tepid advance of +0.03% after Australian data. In terms of the technicals, the cross remains clung to the 20-day SMA, and will face resistive means at 1.1688 (55-day MA), onto 1.1703 (200-day SMA), and 1.1731 (July 16 high). Conversely, the AUD/NZD will encounter support at 1.1658 (July 17 low), ahead of 1.1636 (July 16 low), and 1.1626 (July 15 low).