AUD/NZD Outlook: Cross Attempts Above 1.1394 High
FinFX | Oct 21, 2013 04:16AM ET
AUD/NZD
The cross returns to strength and attempts above 1.1394 high, after completing 1.1394/1.1358 near-term corrective phase, where 55DMA contained pullback. Positive technicals favor extension above 1.1400 barrier to open next strong resistances at 1.1429/36. 50% retracement of 1.1655/1.1203 and the daily 55DMA, as well as the 10/10 near-term congestion top, to open way for further retracement of 1.1655/1.1203 downleg and sideline risk of re-visiting critical 1.1200 support. Further upside would look for 1.1482, 61.8% and psychological 1.1500 barrier, while 1.1300 platform holds.
Resistance: 1.1400; 1.1436; 1.1482; 1.1500
Support: 1.1358; 1.1345; 1.1303; 1.1295
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