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29 Aug 2013
AUD/NZD testing fresh weekly lows above 1.1450 ahead of a busy day down under
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1462 bids, off recent double weekly lows at 1.1452, retracing from Monday's/Friday's double fresh 1-month high at 1.1607, ahead of a busy day full of economic data coming out “down under”.
AUD/NZD lower mainly on Aussie weakness
With Aussie being the weakest currency by far among all majors in last 2 trading days, near a -1% down for the week against USD so far, while Kiwi has remained flat in same time span, the AUD/NZD has gone also lower, few hours away of NZ ANZ business confidence data at 01:00 GMT, Australia HIA new home sales, and private capital expenditure at 01:30 GMT, this last one, the most important data of the week for Aussie according to some analysts.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Thursday's highs 1.1546, followed by early Monday's/Friday's highs at 1.1603/09, and July 03 lows at 1.1645. To the downside, closest support lies at recent session lows 1.1480, followed by August 12 highs at 1.1462, and July 25 lows at 1.1395.
AUD/NZD lower mainly on Aussie weakness
With Aussie being the weakest currency by far among all majors in last 2 trading days, near a -1% down for the week against USD so far, while Kiwi has remained flat in same time span, the AUD/NZD has gone also lower, few hours away of NZ ANZ business confidence data at 01:00 GMT, Australia HIA new home sales, and private capital expenditure at 01:30 GMT, this last one, the most important data of the week for Aussie according to some analysts.
AUD/NZD key technical levels
Immediate resistance to the upside for AUD/NZD shows at Thursday's highs 1.1546, followed by early Monday's/Friday's highs at 1.1603/09, and July 03 lows at 1.1645. To the downside, closest support lies at recent session lows 1.1480, followed by August 12 highs at 1.1462, and July 25 lows at 1.1395.