Benjamin Wong, Strategist at DBS Bank Ltd, points out that as long as AUD/NZD remains above the support range 1.0658/81 it would remain in a bull mode. Key Quotes: “The AUD/NZD cross last trooped off higher from a 1.0869 low, pretty much respecting the 200-day moving average (dma) at 1.0865. It traded off toward a 1.0992 high before receding on lost momentum amid a minor double-top.” “The nearest support is perched on the underlying trendline support drawn from the mid-June lows, around 1.0659, which tangents into the 15-dma. Conceptually, unless the cross breaks under the blue support zone – which is pegged between the 61.8% retracement of 1.0681 and the prior low of 1.0659 – the AUD/NZD remains in a bull mode.” “The upside target can still translate into a push toward the 76.4% retracement of the 1.1430-1.0238 range grip, around 1.1149.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Crude Oil WTI Technical Analysis: Bullish correction underway – Oil at $68.00 a barrel FX Street 5 years Benjamin Wong, Strategist at DBS Bank Ltd, points out that as long as AUD/NZD remains above the support range 1.0658/81 it would remain in a bull mode. Key Quotes: "The AUD/NZD cross last trooped off higher from a 1.0869 low, pretty much respecting the 200-day moving average (dma) at 1.0865. It traded off toward a 1.0992 high before receding on lost momentum amid a minor double-top." "The nearest support is perched on the underlying trendline support drawn from the mid-June lows, around 1.0659, which tangents into the 15-dma. Conceptually, unless the cross breaks under the blue support zone… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
