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2 Apr 2013
Forex: AUD/NZD unchanged ahead of RBA
FXstreet.com (Barcelona) - AUD/NZD is currently at 1.2445 bids, perfectly unchanged for the week so far from previous weekly close Friday, ahead of RBA meeting at 03:30 GMT. Market expects the RBA to stay on hold this time, with doubts on the tone for the statement, given mixed data released recently, included lower than expected yesterdays China PMI's.
The cross has eased almost a -1.8% from March 14 highs above the 1.26 handle when found resistance at the 200 day SMA now around the 1.2634 level. AUD/USD printed fresh 2-week lows past Friday at 1.2423, near support line has worked out twice already since Sept, and current 50% of latest daily up leg 1.2145/1.2683, as well as Feb highs.
Immediate support to the downside for AUD/NZD lies at recent daily/Friday's lows 1.2427/3, followed by March 11 lows at 1.2402, and Feb 09 highs at 1.2374. To the upside, closest resistance shows at March 08 highs 1.2490, followed by March 21 lows at 1.2500, and March 13 highs at 1.2535.
The cross has eased almost a -1.8% from March 14 highs above the 1.26 handle when found resistance at the 200 day SMA now around the 1.2634 level. AUD/USD printed fresh 2-week lows past Friday at 1.2423, near support line has worked out twice already since Sept, and current 50% of latest daily up leg 1.2145/1.2683, as well as Feb highs.
Immediate support to the downside for AUD/NZD lies at recent daily/Friday's lows 1.2427/3, followed by March 11 lows at 1.2402, and Feb 09 highs at 1.2374. To the upside, closest resistance shows at March 08 highs 1.2490, followed by March 21 lows at 1.2500, and March 13 highs at 1.2535.