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29 Jul 2014
AUD/NZD awaits news on Fonterra
FXStreet (Guatemala) - AUD/NZD has been a slow grind around the 1.10 handle with a resistance line set the middle of last weeks business and high 1.1016.
With a slur of third tier data this week from Australia, markets will be turning to Fonterra as the main subject of interest and whether a drop in the pay out to farmers will be enough to rattle the NZD, given much of the bad news is likely to have already been priced in. The last update was NZ$7/kg
AUD/NZD hourly levels
With spot trading at 1.0998, we can see next resistance ahead at 1.1003 (Hourly 20 EMA), 1.1009 (Daily Classic R1) and 1.1016 last weeks high. Support below can be found at 1.0996 (Daily Low), 1.0962 (Daily Classic S1) and 1.0957 (Hourly 100 SMA).
With a slur of third tier data this week from Australia, markets will be turning to Fonterra as the main subject of interest and whether a drop in the pay out to farmers will be enough to rattle the NZD, given much of the bad news is likely to have already been priced in. The last update was NZ$7/kg
AUD/NZD hourly levels
With spot trading at 1.0998, we can see next resistance ahead at 1.1003 (Hourly 20 EMA), 1.1009 (Daily Classic R1) and 1.1016 last weeks high. Support below can be found at 1.0996 (Daily Low), 1.0962 (Daily Classic S1) and 1.0957 (Hourly 100 SMA).