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26 Apr 2013
Forex: AUD/NZD downtrend continues as pair finishes lower for 5th straight day
FXstreet.com (Barcelona) - The AUD/NZD finished the session 17 pips lower at 1.2106. The pair was able to bounce off intraday lows of 1.2076 lows set early in the US session, but is now down 2.78% MTD in April. Trade Balance figures out of New Zealand were released earlier but overall reaction has been pretty quiet with the pair currently flat in Asia trade.
According to analysts at FXStreet.com, “The New Zealand trade balance data in March (MoM) came at 718M vs $373M expected and $414M prior. On a yearly, the trade balance stood at $-0.52B vs $-0.97B expected and $-1.08B prior. Exports were $4.42B vs $4.13B expected and $3.91B prior, while imports came at $3.70B vs $3.83B expected and $3.49B prior.”
The FXStreet.com Trend Index remains slightly bearish on the daily chart, while the OB/OS Index reads Oversold. Short term moving averages remain in bearish set up with price below both the downward sloping 9 and 20 dma’s. Furthermore, momentum studies also remain bearish with the RSI (14) remaining in the bearish zone between 60-20 (currently at 34.21)
According to analysts at FXStreet.com, “The New Zealand trade balance data in March (MoM) came at 718M vs $373M expected and $414M prior. On a yearly, the trade balance stood at $-0.52B vs $-0.97B expected and $-1.08B prior. Exports were $4.42B vs $4.13B expected and $3.91B prior, while imports came at $3.70B vs $3.83B expected and $3.49B prior.”
The FXStreet.com Trend Index remains slightly bearish on the daily chart, while the OB/OS Index reads Oversold. Short term moving averages remain in bearish set up with price below both the downward sloping 9 and 20 dma’s. Furthermore, momentum studies also remain bearish with the RSI (14) remaining in the bearish zone between 60-20 (currently at 34.21)