Watchout for AUD/NZD breaks below 1.0707, tests of 1.0620 likely

FX:AUDNZD   Dolar Australia/Dolar New Zealand
134 0 4
AUD/NZD             bears unable to push the pair below 1.0707 (a double bottom tested on 9th             and 10th Dec).

Price action has re-entered hourly cloud and on the day AUD/NZD             has been supported by cloud base at 1.0728, daily Stochs are in an oversold zone and will see some unwinding soon.

A close above the 200-DMA             at 1.0823 would be very encouraging, bulls could then take the pair to 1.10 and further above to 1.1260.

However the prospect of the AUD starting to trend higher are becoming increasingly remote, multi-year lows for oil             and iron ore, culminating in 13-yr lows for the broader CRB index, are additional AUD headwinds.

Emerging markets are already feeling the strain as the FOMC decision draws near, and can ill afford any China-induced volatility .

We feel AUD/NZD             has further downside to go, breaks below 1.0707 could see the pair test trendline support at 1.0620, which could then provide good entry levels for a long.

Resistance Levels:

R1: 1.0785 (Session high Dec 11)

R2: 1.0823 (200 DMA)

R3: 1.0843 (Dec 10 high)

Support Levels:

S1: 1.0728 (Cloud base)

S2: 1.0707 ( double bottom tested on 9th             and 10th Dec)

S3: 1.0620 ( trendline support)
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Pengimbas Saham Pengimbas Forex Pengimbas Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar