FXstreet.com (San Francisco) - AUD/NZD broke above the 1.2915 resistance area on Wednesday to hit a fresh 5-day high of 1.2931, closing Noram at 1.2901, gaining 15 pips on the day. The market’s recent bounce from the 50% Fibonacci support level at 1.2798 (measuring the move from 1.2320 to 1.3274) is supporting the current positive tone and upward trend bias. Price is virtually unchanged after Statistics New Zealand reported a soft seasonally adjusted Building Permit reading for July at 2.0% vs. a consensus estimate of 3.0%. Support levels are noted at 1.2870 (13 July high) and 1.2855 (50%, 1.2797/1.2913). Resistance may be found at 1.2954 (12 Aug low). AUD/NZD last trades at 1.2910.
AUD/NZD May 19 at 09:12 GMT
1.2056/66 (0.00%)
H1.2061 L 1.2061
Advertisement
© 2013 “FXstreet.com. The Fore Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
