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AUD/NZD meets resistance on the spike

FXStreet (Guatemala) - AUD/NZD is trading at 1.1181, up 0.20% on the day, having posted a daily high at 1.1186 and low at 1.1154.

AUD/NZD spiked on the poor data in respect of New Zealand business confidence, now meeting resistance at this week's highs. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish. Analysts at ANZD explained that they remain bearish on both the NZD and the AUD, and maintain their short NZD trades. “We have tweaked our AUD (higher) and NZD (lower) forecasts for 2015”.

AUD/NZD hourly levels

Current price is 1.1182, with resistance ahead at 1.1190 (Weekly Classic R2), 1.1202 (Daily Classic R2) and 1.1278 (Weekly Classic R3). Next support to the downside can be found at 1.1177 and 1.1160 and 1.1150.

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