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FxWirePro: AUD/NZD takes support at 100-DMA (1.0963), break below to see further weakness

  • AUD/NZD in the red for the third consecutive week, bias lower.
     
  • The pair has taken support at 100-DMA at 1.0963, break below to see further weakness.
     
  • Aussie remains under pressure as the series of weak data continue from Australia.
     
  • Data released earlier today showed Australia trade surplus narrowed in October.
     
  • October trade surplus registered at 105M, below expectations at 1375M, while exports dropped 3 percent.
     
  • The pair is trading in a symmetric triangle pattern on weekly charts, and technical indicators support downside.
     
  • RSI biased lower, momentum studies weak, MACD shows bearish crossover on signal line.

Call update: We had advised a short in our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-Trade-Idea-1044188).

Recommendation: Bias lower, stay short below 100-DMA.

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2018-07-18 00:47:26
0m

July 17 20:00 UTC Released

UST Flows,Incl.Swaps

Actual

31.2 Bln USD

Forecast

Previous

July 17 20:00 UTC Released

USOverall Net Capital Flows

Actual

69.9 Bln USD

Forecast

Previous

January 31 00:00 UTC 242100242100m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 242100242100m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 253920253920m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 242100242100m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 253920253920m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 242100242100m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 242100242100m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 242100242100m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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