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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.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

 

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October 18 14:30 UTC Released

USNat Gas-EIA Implied Flow

Actual

81 bcf

Forecast

Previous

90 bcf

October 18 14:30 UTC Released

USNat Gas, Change Bcf

Actual

81 Cubic feet

Forecast

82 Cubic feet

Previous

90 Cubic feet

January 31 00:00 UTC 375408375408m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375408375408m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387228387228m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375408375408m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387228387228m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375408375408m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375408375408m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375408375408m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

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