{"id":96425,"date":"2016-10-06T06:43:33","date_gmt":"2016-10-06T10:43:33","guid":{"rendered":"http:\/\/countingpips.com\/?p=96425"},"modified":"2016-10-06T06:43:33","modified_gmt":"2016-10-06T10:43:33","slug":"audnzd-aussie-dollar-about-to-complete-correction-vs-nzd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/audnzd-aussie-dollar-about-to-complete-correction-vs-nzd\/","title":{"rendered":"AUDNZD \u2013 Aussie Dollar About To Complete Correction Vs NZD"},"content":{"rendered":"<div id=\"inves-309677122\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 6, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>Key Points<\/strong><\/p>\n<ul>\n<li>The Aussie dollar after trading as high as 1.0635 against the New Zealand Dollar started a correction.<\/li>\n<li>There is a bullish trend line formed on the hourly chart of the AUDNZD pair, which may provide support on the downside.<\/li>\n<li>The Australian trade balance was released by the Australian Bureau of Statistics today.<\/li>\n<li>The market was expecting a trade deficit of -2,300M in August 2016, but it came in at -2,010M.<\/li>\n<\/ul>\n<h2>AUDNZD Technical Analysis<\/h2>\n<p>The Aussie dollar recently traded towards 1.0640 versus the New Zealand Dollar, where it found sellers. The AUDNZD pair started a correction and currently approaching a bullish trend line formed on the hourly chart.<\/p>\n<p>The 21 hourly simple moving average is also on the downside, waiting to act as a support along with the 38.2% Fib retracement level of the last wave from the 1.0509 low to 1.0635 high.<\/p>\n<p>One may consider buying dips in AUDNZD, as long as it is above the 1.0580-550 support area.<\/p>\n<p>&nbsp;<\/p>\n<p>Overall, it looks like the Aussie dollar may decline in the short term, but remains supported near 1.0580 versus the NZD.<\/p>\n<p>&nbsp;<\/p>\n<p><em>\u2013 Guest Post Submitted By Aayush Jindal from the <\/em><a href=\"https:\/\/www.fxtimes.com\"><em>FXTimes<\/em><\/a><em> Team<\/em><\/p><div id=\"inves-2558179120\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Points The Aussie dollar after trading as high as 1.0635 against the New Zealand Dollar started a correction. There is a bullish trend line formed on the hourly chart of the AUDNZD pair, which may provide support on the downside. The Australian trade balance was released by the Australian Bureau of Statistics today. The [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-96425","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=96425"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96425\/revisions"}],"predecessor-version":[{"id":96438,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96425\/revisions\/96438"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=96425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=96425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=96425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}