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2 Jan 2015
AUD/NZD faces stiff resistance at 20-DMA
FXStreet (Mumbai) - The Australian dollar traded slightly higher against its New Zealand counterpart in the European session, extending gaining streak for the fifth straight session.
Currently, the AUD/NZD pair traded at 1.0498 levels, up 0.10% on the day, having posted day’s high at 1.0512 in the Asian morning. The cross in AUD/NZD remains steady amid lack of fresh triggers from both the commodity-oriented nations as US dollar rules the roost making for a smooth transition in the New Year 2015.
The AUD/NZD cross failed to break above the upside barrier at 20-DMA which is placed at 1.0515 levels.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0515 (20-DMA) levels, above which gains could be extended to 1.0533 (Dec 24 High) levels. On the flip side, support is seen at 1.0471 (Dec 19 Low) levels, from here it to below 1.0426 (Dec 29 Low) levels.
Currently, the AUD/NZD pair traded at 1.0498 levels, up 0.10% on the day, having posted day’s high at 1.0512 in the Asian morning. The cross in AUD/NZD remains steady amid lack of fresh triggers from both the commodity-oriented nations as US dollar rules the roost making for a smooth transition in the New Year 2015.
The AUD/NZD cross failed to break above the upside barrier at 20-DMA which is placed at 1.0515 levels.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0515 (20-DMA) levels, above which gains could be extended to 1.0533 (Dec 24 High) levels. On the flip side, support is seen at 1.0471 (Dec 19 Low) levels, from here it to below 1.0426 (Dec 29 Low) levels.