Filed Under:
Forex pairs in this Article » AUD/NZD, AUD/USD, NZD/USD (Barcelona) - With Aussie falling to almost 1-month fresh lows last at 1.0186 USD following Australian retail sales and building approvals data recently released, AUDNZD is also visiting session lows currently at 1.2431, while NZDUSD is barely below 0.82 also near session lows. The cross is down a generous -4.9% already since July highs, now off recent 1-year lows Tuesday at 1.2370, still a -0.56% down for the week.

As notes: "On FX, AUDUSD back down, as some focus on the downward revision in July's building approvals to -21.2%, thus canceling out the upside surprise for the August number. This coupled with the weaker +0.2% retail sales rebound from -0.8% in July, vs 0.4% expected, to trigger more selling in AUDUSD," the analysts say, adding: "Concerns over slowing retail trade, economy and housing markets - and the commodities prices, falling demand - to see further RBA rate cuts ahead," they conclude. AUDUSD is already a -0.34% for the session alone, mounting to some -1.86% loss for the week so far.

Immediate support to the downside for AUDNZD comes at yesterday's lows 1.2398, followed by Monday's and fresh 1-year lows at 1.2369, and Aug 2011 2-year lows at 1.2316. To the upside, nearest term resistance shows at recent session highs and Monday lows at 1.2480, followed by Tuesday/weekly highs at 1.2535, and Sept 24 lows at 1.2570.
comments powered by Disqus