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17 Sep 2013
AUD/NZD struggles to resurge from 1.1370 session lows
FXstreet.com (Chicago) - AUD/NZD found grounds after hitting 1.1370 bottoms after a short-lived impulsive price movement that sent the pair to the 1.14 zone.
No cuts?
The RBA minutes came in with no surprises and assumptions imply there will be no cuts next October as an emphasis on “no imminent intention to reduce rates” indicated. In New Zealand new motor vehicle sales (MoM) were 0.8% vs. past -3.6%.
AUD/NZD Technical Levels
Price action reveals the pair continues extending the downward trendline marking lower lows despite an inconclusive rebound. Offered at 1.1375, the pair oscillates between supports at 1.1327 (September 11th lows), 1.1280 (August 17th lows) ahead of 1.1198 (August 7th lows) and resistances at 1.1380 (August 16th highs), 1.1432 (August 29th lows) followed by 1.1475 (September 2nd lows).
No cuts?
The RBA minutes came in with no surprises and assumptions imply there will be no cuts next October as an emphasis on “no imminent intention to reduce rates” indicated. In New Zealand new motor vehicle sales (MoM) were 0.8% vs. past -3.6%.
AUD/NZD Technical Levels
Price action reveals the pair continues extending the downward trendline marking lower lows despite an inconclusive rebound. Offered at 1.1375, the pair oscillates between supports at 1.1327 (September 11th lows), 1.1280 (August 17th lows) ahead of 1.1198 (August 7th lows) and resistances at 1.1380 (August 16th highs), 1.1432 (August 29th lows) followed by 1.1475 (September 2nd lows).