Free Trial

AUD/NZD has lost around 20 pips to......>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has lost around 20 pips to last deal at NZ$1.0970, after
overbought daily studies and the Bollinger top (NZ$1.1015) impacted the cross
with a lack of follow through on the recent 5-month highs. - Bulls take comfort
in bounces from around the 200-DMA (NZ$1.862) but continue to look for a close
above the Jan 30 low (NZ$1.1006) to reconfirm a bullish bias and initially
target the YtD highs. Initial support is noted at the July 12 high (NZ$1.0941)
with bears needing a close below to gain breathing room.
- There is plenty of tier 1 risk evident in Australia and New Zealand this week.
Chinese GDP data will hit shortly, while Tuesday brings the release of NZ CPI &
the RBA's July MonPol meeting minutes, with the Aussie labour market report due
on Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.