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13 Aug 2014
AUD/NZD regains 1.10 on better Aus consumer sentiment
FXStreet (Bali) - AUD/NZD keeps pressing into higher ground, with the current rate at 1.1015 following better-than-expected consumer sentiment in Australia.
From an order flow standpoint, immediate supply for the pair is found between 1.1030-50 as per the origin of the latest sell-off last Aug 7, which should act as a reference point to enter shorts, take profits.
On the downside, the 1.0920-40 demand area remains key, with stop reported below. As the picture stands, the market profile short term continues to be characterized by a range-bound environment between 1.0920 and 1.1050.
From an order flow standpoint, immediate supply for the pair is found between 1.1030-50 as per the origin of the latest sell-off last Aug 7, which should act as a reference point to enter shorts, take profits.
On the downside, the 1.0920-40 demand area remains key, with stop reported below. As the picture stands, the market profile short term continues to be characterized by a range-bound environment between 1.0920 and 1.1050.