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16 Sep 2015
AUD/NZD headed toward highest close in 2 months
FXStreet (Córdoba) - The Australian dollar is rising again versus the Kiwi and is about to post the first daily close above 1.1300 since mid-July. AUD/NZD retreated yesterday after being unable to hold above 1.1300 and today found support on top of 1.1200. It moved all day with a bullish bias and peaked during the American session at 1.1331.
It was trading at 1.1308/12, with a gain of 85 pips and holding above previous daily highs.
Is not all about the Fed
While analysts and investors continue to speculate about what the Federal Reserve is going to decided tomorrow, important economic events will take place in Australia and New Zealand before that.
At 22:45 GMT, a new estimation of 2Q GDP growth will be release in New Zealand. The economy is expected to have advanced 0.5% - 0.6% during the three-month period. The report will include historical revisions. Later the Reserve Bank of Australia will publish its quarterly bulletin.
AUD/NZD technical level
To the upside, resistance levels might lie at 1.1320 (intraday), 1.1350, 1.1375 (July 16 high) and 1.1415. On the opposite direction, support could be located at 1.1270, 1.1205 (daily low) and 1.1175.
It was trading at 1.1308/12, with a gain of 85 pips and holding above previous daily highs.
Is not all about the Fed
While analysts and investors continue to speculate about what the Federal Reserve is going to decided tomorrow, important economic events will take place in Australia and New Zealand before that.
At 22:45 GMT, a new estimation of 2Q GDP growth will be release in New Zealand. The economy is expected to have advanced 0.5% - 0.6% during the three-month period. The report will include historical revisions. Later the Reserve Bank of Australia will publish its quarterly bulletin.
AUD/NZD technical level
To the upside, resistance levels might lie at 1.1320 (intraday), 1.1350, 1.1375 (July 16 high) and 1.1415. On the opposite direction, support could be located at 1.1270, 1.1205 (daily low) and 1.1175.