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AUD/NZD holds above 1.1150 ahead of Capex

FXStreet (Bali) - AUD/NZD is trading just above the 1.1150 handle ahead of Australia's Capex report, with trading conditions best defined as range-bound between 1.1125-1.12 within the context of a developing uptrend on the daily.

According to Peter Fell, Analyst at FXBeat: "Over the past few sessions, the cross has stalled below 1.1200, I hear fresh longs have left their stops below 1.1100."

"Today has the potential to see some sort of correction, Aussie Capex is due at 01:30 GMT, a weak number will put downward pressure on the cross. There is good support at 1.1056, 50% fibo on the 1.0925/1.1187 rise, 1.1050/55 was also the old resistance area and should now be supportive", Peter adds.

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