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25 Aug 2014
AUD/NZD: Technicals align for a bullish trend continuation - TDS
FXStreet (Bali) - The AUD/NZD is liable to continue move up towards the 1.12/1.16 congestion area, notes the FX Strategy Team at TD Securities.
Key Quotes
"AUDNZD is pressing the top of the 2014 consolidation channel just below 1.11. An alignment of bullish trend momentum signals on the short, medium and long-term studies suggests that the cross is liable to continue move up towards the 1.12/1.16 congestion range near-term while counter-trend corrections should remain limited. Bigger picture price action is positive."
"A strong close to July (bullish outside range month) supports the impression that the cross carved out an important low/reversal at the start of the year and should correct more the 2011/2014 drop from 1.3795 in the next few months."
Key Quotes
"AUDNZD is pressing the top of the 2014 consolidation channel just below 1.11. An alignment of bullish trend momentum signals on the short, medium and long-term studies suggests that the cross is liable to continue move up towards the 1.12/1.16 congestion range near-term while counter-trend corrections should remain limited. Bigger picture price action is positive."
"A strong close to July (bullish outside range month) supports the impression that the cross carved out an important low/reversal at the start of the year and should correct more the 2011/2014 drop from 1.3795 in the next few months."