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16 Sep 2013
AUD/NZD on bullish-short term channel; target at 1.1420
FXstreet.com (Chicago) - AUD/NZD points upward extending bullish channel and upward trendline for the short-term.
Price action reveals steady upward movements at the opening of Monday’s session in Asia with bearish pressure balancing out bullish momentum making the pair stall after a 0.16% advancement. Later this week, market participants wait for Australian Central Bank meting minutes on interest rate decision and economic outlook while NZ will release GDP results for the second quarter of the year.
Offered at 1.1382, the pair oscillates between supports at 1.1380 (August 18th highs), 1.1327 (August 8th lows) ahead of 1.1280 (August 17th lows) and resistances 1.1432 (August 29th lows), 1.1475 (September 8th lows) ahead of 1.1536 (September 8th highs). Reported as slightly bullish by FXstreet.com and with a price above the EMA20, the pair targets 1.14 zone.
Price action reveals steady upward movements at the opening of Monday’s session in Asia with bearish pressure balancing out bullish momentum making the pair stall after a 0.16% advancement. Later this week, market participants wait for Australian Central Bank meting minutes on interest rate decision and economic outlook while NZ will release GDP results for the second quarter of the year.
Offered at 1.1382, the pair oscillates between supports at 1.1380 (August 18th highs), 1.1327 (August 8th lows) ahead of 1.1280 (August 17th lows) and resistances 1.1432 (August 29th lows), 1.1475 (September 8th lows) ahead of 1.1536 (September 8th highs). Reported as slightly bullish by FXstreet.com and with a price above the EMA20, the pair targets 1.14 zone.