AUD/NZD Outlook: September, 16 2013
FinFX | Sep 16, 2013 04:57AM ET
The cross remains in a sideways mode, with near-term price action trading within 1.1332/1.1415 consolidation range. Hourly studies are neutral, while larger picture bears remain intact and see the downside at risk, as a part of broader weakness from 1.1655 peak of 04/09. Immediate target lies at 1.1261, 19/08 low, however, overextended 4-hour studies would signal prolonged consolidative phase. Lower platform at 1.1540 is expected to cap, while only break above 1.1554 lower top, would sideline bears and shift near-term focus higher.
Resistance: 1.1415; 1.1440; 1.1465; 1.1500
Support: 1.1332; 1.1300; 1.1262; 1.1233
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