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AUD/NZD Outlook: September, 19 2013

AUD/NZD Outlook: September, 19 2013


The cross lost ground as a recovery attempt failure at 1.1428, triggered fresh weakness that broke below near-term platform at 1.1330 zone. A loss of the psychological 1.1300 support opens way for full retracement of the 1.1261/1.1655 rally. Also, it signals an end of larger corrective phase that commenced from 1.1197 and peaked at 1.1655, as 1.1261 is seen as the last barrier en-route towards 1.1197, 01/08 low, and the key short-term support. Negative near-term studies support the notion, with corrective rallies expected to be capped under the 1.1400 hurdle. Resistance: 1.1341; 1.1360; 1.1375; 1.1415

Support: 1.1291; 1.1262; 1.1250; 1.1200


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