Back
15 Jul 2013
AUD/NZD depressed below 1.1650
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1637, off recent session highs at 1.1675, and about flat from previous weekly close Friday.
AUD/NZD likely to test 1.1500
According to FXWW founder Sean Lee, “AUD/NZD has made fresh lows and looks likely to test 1.1500.” The cross has been closing lower 15 out of last 17 weeks, currently trading at such low levels not seen since late year 2008, down -7.29% year to date, mostly on the back of Aussie weakness.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at recent session lows 1.1605, followed by Friday's fresh 4.5-year lows at 1.1580, and April 2008 lows at 1.1500. To the upside, closest resistance shows at current levels as July 03/05 lows 1.1650, followed by recent session highs at 1.1675, and June 20 lows at 1.1728.
AUD/NZD likely to test 1.1500
According to FXWW founder Sean Lee, “AUD/NZD has made fresh lows and looks likely to test 1.1500.” The cross has been closing lower 15 out of last 17 weeks, currently trading at such low levels not seen since late year 2008, down -7.29% year to date, mostly on the back of Aussie weakness.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at recent session lows 1.1605, followed by Friday's fresh 4.5-year lows at 1.1580, and April 2008 lows at 1.1500. To the upside, closest resistance shows at current levels as July 03/05 lows 1.1650, followed by recent session highs at 1.1675, and June 20 lows at 1.1728.