Friday, October 2, 2015

AUD/NZD consolidated ahead of key releases

FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0998 with a high of 1.1032 and a low of 1.0975.

AUD/NZD was turned on its head when risk sentiment dropped, with US data disappointment in the ISM manufacturing miss that continues to warn of a weaker outlook.

The Aussie was failing on the upside again at 0.7080 while the NZD was in supply at 0.6450 and is consolidating the downside and stabilizing on the 50 SMA on the hourly sticks. We await the Aussie retails sales that is expected to be soft, and the non-daily component of ANZ commodity prices due at 1pm NZT today, ahead of the Nonfarm Payrolls tonight from the US session.

AUD/NZD technically neutral

AUD/NZD is technically in neutral trading along the narrow channel between 1.1050 and 1.0940. The 50 and 20 MA's are flat on the hourly sticks while RSI (14) is at 50 and price continues to trade below the 200 SMA on the same time frame at 1.1087 currently.
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