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21 Oct 2013
AUD/NZD registers lower lows on neutral EMA20; holding 1.1370 front
FXstreet.com (Chicago) - AUD/NZD forges grounds around the 1.1360 zone after NZ data shortly after Tokyo’s opening on a week potential driven by data releases.
Drifting away 1.14 front
4HR charts reveals rectangle pattern with sideways with two exhaustion gaps indicating heavy selling on intraday charts. Extending bearish short-term channel from last Thursday October 17th, the pair sails away 1.14 zone.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1372 and oscillates between supports aligned at 1.1351 (October 18th lows), 1.13 (October 17th lows) ahead of 1.1265 (October 3rd lows) and the resistances set at 1.14 (September 18th highs), 1.1430 (October 12th highs) followed by 1.1464 (September 6th lows). Price action reveals lower highs and lows on bearish pressure at 1HR charts with downward potential after last week’s double tops. Primary trend remains positive while secondary, short-term and intraday trends face the grounds.
Drifting away 1.14 front
4HR charts reveals rectangle pattern with sideways with two exhaustion gaps indicating heavy selling on intraday charts. Extending bearish short-term channel from last Thursday October 17th, the pair sails away 1.14 zone.
AUD/NZD Technical Levels
Technically speaking, the pair is offered at 1.1372 and oscillates between supports aligned at 1.1351 (October 18th lows), 1.13 (October 17th lows) ahead of 1.1265 (October 3rd lows) and the resistances set at 1.14 (September 18th highs), 1.1430 (October 12th highs) followed by 1.1464 (September 6th lows). Price action reveals lower highs and lows on bearish pressure at 1HR charts with downward potential after last week’s double tops. Primary trend remains positive while secondary, short-term and intraday trends face the grounds.