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FxWirePro: AUD/NZD resumes downside after rejection at 21-EMA, good to go short on upticks

AUD/NZD chart on Trading View used for analysis 

  • AUD/NZD extends weakness for 3rd straight session, trades 0.08% lower on the day.
     
  • The pair has resumed downside after upside recovery attempts were rejected at 21-EMA.
     
  • Momentum studies are bearish, RSI is biased lower. We see -ve DMI dominance.
     
  • The pair is in a long term downtrend and rejection at 21-EMA has opened up further downside for the pair.
     
  • We see scope for downside till 1.0370 (June 22 low). Further weakness only on break below.
     
  • On the flipside, we see upside possiblity only on breakout at 21-EMA.

Support levels - 1.0428 (Lower BB), 1.04, 1.0370 (June 22 low)

Resistance levels - 1.0518 (5-DMA), 1.0566 (converged 20-DMA and 21-EMA)

Recommendation: Good to go short on upticks around 1.0480, SL: 1.0570, TP: 1.04/ 1.0370

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 
 

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July 2 15:00 UTC Released

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449.6 Stale

Forecast

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451.7 Stale

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USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 767814767814m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 767814767814m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 779634779634m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 767814767814m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 779634779634m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 767814767814m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 767814767814m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 767814767814m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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