FXstreet.com (Barcelona) - AUD/NZD is currently at 1.2767, bouncing from daily lows at 1.27005, 0.38 retrace of the daily up leg 1.2487/1.3047. The cross is still down -0.25% from previous Asia-Pacific open yesterday, when New Zealand GDP came unexpectedly much better than the 0.5% increase in 1Q market was waiting for.
According to IFR Markets: “The break below the June 4 lows and the widening of the Bollingers as that's happened puts the cross in a negative stance,” the analysts say, adding: “We are short from the retrace back toward Monday's lows for a move below 1.2700.” Oil is printing multi-month record lows at the moment, light crude Texas below $80, while gold is down by -2.44% to around $1566.
Immediate support to the downside for AUD/NZD comes at recent day and fresh 6-week lows as well as 0.38 retrace of down leg 1.2487/1.3047 at 1.2705, followed by March 28 lows at 1.2685, and May 01 lows at 1.2659. For the upside, closest resistance shows at recent session highs and yesterday's/May 12 lows at 1.2773, followed by June 15 highs at 1.2816, and yesterday's highs at 1.2830.
According to IFR Markets: “The break below the June 4 lows and the widening of the Bollingers as that's happened puts the cross in a negative stance,” the analysts say, adding: “We are short from the retrace back toward Monday's lows for a move below 1.2700.” Oil is printing multi-month record lows at the moment, light crude Texas below $80, while gold is down by -2.44% to around $1566.
Immediate support to the downside for AUD/NZD comes at recent day and fresh 6-week lows as well as 0.38 retrace of down leg 1.2487/1.3047 at 1.2705, followed by March 28 lows at 1.2685, and May 01 lows at 1.2659. For the upside, closest resistance shows at recent session highs and yesterday's/May 12 lows at 1.2773, followed by June 15 highs at 1.2816, and yesterday's highs at 1.2830.
