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26 Feb 2015
AUD/NZD needs to clear 1.0420 for further downside
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0427 with a high of 1.0445 and a low of 1.0425.
AUD/NZD is finally out of the sideways channel that was containing the pair for the most part of yesterday's and today's business that was changing hands in the US session. The catalyst for the selloff comes in the NZ trade balance.
The data was beating expectations for January's trade, with more incomings than out and slide in the values of imports. Trade balance for January came at 56m vs -158m expected and -159m prior, with exports at 3.70bn vs 3.73bn exp and 4.42bn prior, while imports were 3.64m vs 3.94bn exp and 4.58bn prior. Technically, 1.0420 needs to give however if we are to see any kind of a test of the 1.04 handle and further downside opportunities until congestion at 1.0360.
AUD/NZD is finally out of the sideways channel that was containing the pair for the most part of yesterday's and today's business that was changing hands in the US session. The catalyst for the selloff comes in the NZ trade balance.
The data was beating expectations for January's trade, with more incomings than out and slide in the values of imports. Trade balance for January came at 56m vs -158m expected and -159m prior, with exports at 3.70bn vs 3.73bn exp and 4.42bn prior, while imports were 3.64m vs 3.94bn exp and 4.58bn prior. Technically, 1.0420 needs to give however if we are to see any kind of a test of the 1.04 handle and further downside opportunities until congestion at 1.0360.