FXstreet.com (Barcelona) - AUD/NZD is currently at 1.3001, slightly below yesterday's lows, and retracing from yesterday's NY session highs at 1.3029. The cross is pretty much unchanged for the week, with lows in between Tuesday at 1.2960, and highs Tuesday/yesterday at 1.3038, barely below past week's highs at 1.3046. USD is inching higher across the board at the moment, including against Yen.
“We now look for at least a retest of the July peak, though Trend Intensity is in neutral at the moment,” IFR Markets analysts say, in for a long position expecting an uptrend resumption. Uptrend started in late June, that has been capped by late July around 1.3080, a selling area since early January 2012. Regarding to NZ: “Fonterra reported that whole milk powder prices rose 7.3% at the latest auction,” Westpac Bank told clients in a research note.
Immediate support to the downside for AUD/NZD shows at current session lows as July 27/31 highs around 1.2990, followed by Tuesday's lows at 1.2958 (0.5 Fibo retrace of 1.2860/1.3050 up leg), and June 07 highs at 1.2946. For the upside, closest resistance comes at Monday's highs 1.3020, followed by yesterday's highs 1.3040, and Aug 09 highs at 1.3050.
“We now look for at least a retest of the July peak, though Trend Intensity is in neutral at the moment,” IFR Markets analysts say, in for a long position expecting an uptrend resumption. Uptrend started in late June, that has been capped by late July around 1.3080, a selling area since early January 2012. Regarding to NZ: “Fonterra reported that whole milk powder prices rose 7.3% at the latest auction,” Westpac Bank told clients in a research note.
Immediate support to the downside for AUD/NZD shows at current session lows as July 27/31 highs around 1.2990, followed by Tuesday's lows at 1.2958 (0.5 Fibo retrace of 1.2860/1.3050 up leg), and June 07 highs at 1.2946. For the upside, closest resistance comes at Monday's highs 1.3020, followed by yesterday's highs 1.3040, and Aug 09 highs at 1.3050.
