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AUD/NZD: below 20 4hr sma and turns bearish

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - AUD/NZD is stationary ahead of the RBA today.

    a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=0af4292f-c020-4c2d-81cd-2889be720f0d">The yuan fix was neutral and we are in wait and see mode. A preview of the RBA can be read here, but the real size of it all come in the statement rather than the decision its-self. "Only one of 29 Bloomberg survey respondents is looking to a cut at this meeting, however, we note that OIS are pricing a roughly 80% chance of a 25bpt cut over the next 12 months. Recent inflation data have served to reduce expectations for easing," explained analysts at Scotiabank.

    AUD/NZD levels

    Technically, AUD/NZD is reversing the November downtrend from above 1.1080. The recent low earlier this month comes at 1.0539. The cross has penetrated the 20 sma on the 4hr chart at 1.0914 and below the 200 dma at 1.0905 . S2 is now exposed at 1.0859 ahead of S1 at 1.0819.
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