Tag Archives: NZD/USD
Asian Currencies Technicals
AUD/USD: Pausing Ahead Of Sept Lows. The AUD/USD continued its move lower towards the Sept monthly lows, dipping below the 21 day lower Bollinger band ($1.0207) and closing below the 100-DMA and the 38.2% Fibo of the $0.9584-1.0624 move, all adding weight to the bearish case.
FX Daily Majors
Today’s highlights: – EURUSD: Prod above 1.2960 is capped at 1.2970 for now but broader recovery risk still intact whilst above 1.2803/1.2740 support zone for 1.3172.
Asian Currencies Technicals
AUD/USD: Potential For Fresh 2012 Lows. The AUD/USD finally managed a close below the 200-DMA ($1.0346) with the immediate focus now on the $1.0168-1.0237 region.
FX Daily Majors
Today’s highlights: – EURUSD: Support found at 1.2803 trendline support ahead of the 1.2740 38.2% retracement. We expect a breakout above 1.2838 to allow for risk up to 1.3048 initially, then 1.3172.
FX Daily Strategist: Europe
– AUD crosses to weaken following unexpected RBA cut; Statement dovish RBA unexpectedly cut rates by 25bps 3.25 per cent delivering a fairly dovish statement suggesting that further rate cuts lie ahead. The RBA statement was quite dovish on all points, and there was a noticeable increase in concern over the China growth outlook.
Asian Currencies Technicals
AUD/USD: Another Dip Below The 200-DMA. Another spike below the 200-DMA ($1.0345) for the pair keeps the pressure on lower levels, but a close below the 200-DMA is needed to see focus turn to retests of the Sept monthly lows at $1.0169.
Daily FX Technical Strategy: AUD look out
At the start of a new quarter, the AUD is taking centre stage. AUD/NZD appears to have completed a huge Head and Shoulders top and conservatively threatens to revisit its 2011 low.
FX Daily Majors
Today’s highlights: – EURUSD: Reversal on Friday from resistance found at 1.2838 turns the focus lower to the 1.2740 38.2% retracement which is expected to hold.
FX Daily Strategist: Europe
– Markets sluggish on Chinese PMI; AUD heavy on crosses Markets are sluggish in holiday-thinned Asian markets today with Chinese data yet again disappointing. The official NBS PMI came in contractionary territory for the second straight month (the first consecutive sequence since 2009) and following the weekend HSBC PMI (contracted 11th month).
Asian Currencies Technicals
AUD/USD: 200-DMA remains key support. The pair managed to briefly pop above the Sept 25 highs before heading back towards the key support noted at the 200-DMA.
FX Daily Strategist: US
– Risk-on likely undeterred by Spanish bank review this evening ; Look to add to short USD The long-awaited Spanish budget has been well received by markets with Spanish sovereign spreads relative to Germany narrowing and global equities finishing higher.
Global Technical Watch – NZD standout
On the Barclays TRENDS Heatmap, the NZD has consistently been one of the more bullish FX candidates. On the charts, we are impressed by NZD/USD holding above 0.8190 support and consolidating in a manner that is ultimately bullish.