AUD/NZD scope for test of 100-DMA at 1.0828, buy dips

FX:AUDNZD   Australian Dollar / New Zealand Dollar
171 0 6
AUD/NZD             has retraced from session highs at 1.0741 and is currently trading around 1.0700 levels.

The pair has broken major trendline resistance at 1.0500 levels, upside currently halts at stiff resistance by 1.0740, bias higher.

Momentum studies are heavily bullish , we see scope for test of 100-DMA at 1.0828.

Australia Q2 CPI             data (due Wed 27 July) in focus after the extremely weak Q1 data, expectations are for .

While downbeat New Zealand CPI             data in Q2 increased the odds of RBNZ rate cut in August.

Supports on the downside are seen at 1.0588 (5-DMA), 1.0490 ( trendline ) and 1.0474 (20-DMA).

Resistance on the upside aligns at 1.0741 (session high), 1.0776 (May 31 high) and 1.0828 (100-DMA).

Good to go long on dips around 1.0680, SL: 1.0585, TP: 1.0740/ 1.0775/ 1.08/ 1.0825
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out