OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: AUD/NZD tumbles to daily low at 1.2117/24

FXstreet.com (Barcelona) - The AUD/NZD plummeted overnight and into the Wednesday session as news out of Australia and New Zealand dominated the headlines. Technically speaking, the pair is in lousy shape, having entrenched itself in negative territory and establishing session lows in these moments at 1.2117/24.

At this juncture the cross has settled a marginal -0.79% off its opening. According to the Mataf.net technical analyst team, following a drop below the 1.2136 support, the AUD/NZD will encounter its next supportive means at 1.2080, down to 1.2031. Conversely, the pair is slated to face short-term resistance at 1.2241, then 1.2290, and ultimately 1.2346.

“The contrasts between the RBAs clear easing bias and the RBNZs steady hand plus the sharp divergence in relative commodity prices suggests ongoing risks to 1.20-1.2100 multi-week.” writes Global FX Strategist Sean Callow at Westpac.

Overnight, the RBNZ decided to steady rates at 2.5%, matching expectations. Moreover, Australian economic data revealed less-than-expected CPI figures across the board.

Forex: EUR/USD eases from 1.3000

The shared currency is trading below the key limestone at 1.3000 on Wednesday, ahead of the German IFO series due later. According to prior surveys, all of the components are expected to come...
Read more Previous

Forex Flash: What does the EUR/USD have to offer? – BTMU, UBS and Commerzbank

The shared currency is giving away more pips and navigating session lows below the key level at 1.3000 ahead of the German IFO due later, as sentiment surrounding the euro continues to wane...
Read more Next
Start livechat