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23 Sep 2013
AUD/NZD clings to EMA20 crossing, 7-week lows
FXstreet.com (Chicago) - AUD/NZD trades right at the cross-fit of the EMA20 on one hour analysis shortly after the usual opening of Tokyo’s markets – closed today on Equinox holiday. Still under 7-week lows, the pair is pressed up by stronger bullish momentum.
Light data
Price action reveals a small runaway gap shortly after the beginning of the journey. Capping at 1.1249, the pair attempts to extent earlier the upward trendline that started last Friday. Higher highs and lows indicate the potential formation of a reversal movement on a no data release day for both countries. China’s HBBC manufacturing results may have direct impact on the pair movement.
AUD/NZD Technical Levels
Offered at 1.1234, the pair violates the immediate support at 1.1239 (September 19th lows) and now faces following ones at 1.1198 (July 30th lows) ahead of 1.1154 (July 31st lows). On the upside, resistances are aligned at 1.1280 (August 15th lows), 1.1327 (August 8th lows) followed by 1.1380 (August 16th highs). Reported as slightly bullish on one-hour timeframe analysis by the FXstreet.com trend index, the pair clings to the EMA20.
Light data
Price action reveals a small runaway gap shortly after the beginning of the journey. Capping at 1.1249, the pair attempts to extent earlier the upward trendline that started last Friday. Higher highs and lows indicate the potential formation of a reversal movement on a no data release day for both countries. China’s HBBC manufacturing results may have direct impact on the pair movement.
AUD/NZD Technical Levels
Offered at 1.1234, the pair violates the immediate support at 1.1239 (September 19th lows) and now faces following ones at 1.1198 (July 30th lows) ahead of 1.1154 (July 31st lows). On the upside, resistances are aligned at 1.1280 (August 15th lows), 1.1327 (August 8th lows) followed by 1.1380 (August 16th highs). Reported as slightly bullish on one-hour timeframe analysis by the FXstreet.com trend index, the pair clings to the EMA20.