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13 Apr 2015
Technical outlook for the Antipodeans – FXMarketAlerts
FXStreet (Barcelona) - The FXMarketAlerts Team gives the technical outlook for NZD/USD, AUD/USD and AUD/NZD, with the Aussie and Kiwi seen extending losses post the release of weak Chinese data release.
Key Quotes
“NZD/USD extends losses to 10-day lows of 0.7456, lowest level since April 2 0.7422. Down from 0.7530-35. Eye break of 0.7400.”
“Though focus on AUD/NZD plays - now at 1.0170-80. with interest to sell AUD/NZD on rallies to 1.02 - for break of 1.0100. Then all time lows near Parity."
“AUD/USD hit lows of 0.7586 (still falling at time of writing) from 0.7667 after the China trade data. Focus on 6-year lows of 0.7540-45 - with weak China trade to put pressure on RBA to cut Cash Rate.”
“Though as pointed out by my colleague, China's deficit with Australia actually widened from $2.75bln in February to $4.37bln in March. Signalling Australia's trade surplus vs China has widened. Though the big picture is still that China trade surplus has fallen to $3.08%bln, less than 7% of $45.35bln expected. Raising concerns over China economy.”
“Weak stops below 0.7570 for AUD, then 0.7540-45 and 0.7500 Option barriers.”
Key Quotes
“NZD/USD extends losses to 10-day lows of 0.7456, lowest level since April 2 0.7422. Down from 0.7530-35. Eye break of 0.7400.”
“Though focus on AUD/NZD plays - now at 1.0170-80. with interest to sell AUD/NZD on rallies to 1.02 - for break of 1.0100. Then all time lows near Parity."
“AUD/USD hit lows of 0.7586 (still falling at time of writing) from 0.7667 after the China trade data. Focus on 6-year lows of 0.7540-45 - with weak China trade to put pressure on RBA to cut Cash Rate.”
“Though as pointed out by my colleague, China's deficit with Australia actually widened from $2.75bln in February to $4.37bln in March. Signalling Australia's trade surplus vs China has widened. Though the big picture is still that China trade surplus has fallen to $3.08%bln, less than 7% of $45.35bln expected. Raising concerns over China economy.”
“Weak stops below 0.7570 for AUD, then 0.7540-45 and 0.7500 Option barriers.”