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11 Mar 2014
AUD/NZD battles on 1.0630 support
FXStreet (Guatemala) - AUD/NZD is trading in a 20-30 pip range still, marking a high of 1.0664 and a low of 1.0635, narrowing along the sideways channel with a slightly more bullish bias.
Strategists at TD Securities explained in their view that the market is fully priced for the RBNZ hike schedule over the following year, and that implies the only way the two series can normalize is if the market begins anticipating the RBA to hike.
AUD/NZD Levels
Support comes as 1.0572, 1.0609 and 1.0631. RSI(14) reads 41.27 while resistances are 1.0655 (EMA5) and 1.0668 ( Pivot) ahead of 1.06987 (R1).
Strategists at TD Securities explained in their view that the market is fully priced for the RBNZ hike schedule over the following year, and that implies the only way the two series can normalize is if the market begins anticipating the RBA to hike.
AUD/NZD Levels
Support comes as 1.0572, 1.0609 and 1.0631. RSI(14) reads 41.27 while resistances are 1.0655 (EMA5) and 1.0668 ( Pivot) ahead of 1.06987 (R1).