{"id":25904,"date":"2011-12-09T15:20:14","date_gmt":"2011-12-09T20:20:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/12\/09\/fx-technical-analysis-%e2%80%93-audnzd-%e2%80%93-more-downward-pressure-2\/"},"modified":"2011-12-09T15:20:14","modified_gmt":"2011-12-09T20:20:14","slug":"fx-technical-analysis-audnzd-more-downward-pressure-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/12\/09\/fx-technical-analysis-audnzd-more-downward-pressure-2\/","title":{"rendered":"FX Technical Analysis \u2013 AUD\/NZD \u2013 More Downward Pressure"},"content":{"rendered":"<p><strong>Source: <a href=\"http:\/\/www.forexyard.com\/landsys\/general_static\/en\/?pid=545&#038;mid=888&#038;cid=15844&#038;zid=15873\" target=\"_blank\">ForexYard<\/a><\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\" alt=\"printprofile\" \/><\/p>\n<p>Following today\u2019s sharp appreciation ofthe New Zealand dollar the AUD\/NZD made a breach below a key support level.<\/p>\n<p><span><\/span>Expanding on this morning\u2019s Wild Card selection from the <a href=\"http:\/\/www.forexyard.com\/en\/market-analysis\/return_to_the_%E2%80%9Crisk-on%E2%80%9D_trade_in_asia_boosts_the_nzd_and_commodities-2011-05-26\">FOREXYARD Daily Analysis<\/a>, the AUD\/NZD has hastily fallen from its early May high and this morning the pair has moved below the significant 1.3190 support level from the mid-April low. The AUD\/NZD briefly fell below the psychological support level of 1.3100 but was unable to hold this mark after the European open. <\/p>\n<p>Downward pressure is building on the pair after the breach and the selling may continue. Initial support is found at the trend line off of the November and January lows which comes in today at 1.3015. A breach here and the AUD\/NZD would target a range between the January pivot at 1.2775 and 1.2470, the latter being the 61.8% retracement level from the 2010 low to the May 2011 high. The November low at 1.2640 would be a last stand for the Aussie dollar. <\/p>\n<p>To the upside, the mid-April low will now switch from support to the first resistance level followed by the mid-May low at 1.3350. The pivots from May and March also deserve a mention at 1.3700 and 1.3790 respectively.<\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/05\/AUDNZD_Daily.JPG\" alt=\"AUDNZD_Daily\" title=\"AUDNZD_Daily\" width=\"567\" height=\"571\" class=\"alignnone size-full wp-image-14433\" \/><\/p>\n<p><strong><a href=\"http:\/\/www.forexyard.com\/landsys\/general_static\/en\/?pid=545&#038;mid=888&#038;cid=15844&#038;zid=15873\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: ForexYard Following today\u2019s sharp appreciation ofthe New Zealand dollar the AUD\/NZD made a breach below a key support level. Expanding on this morning\u2019s Wild Card selection from the FOREXYARD Daily Analysis, the AUD\/NZD has hastily fallen from its early May high and this morning the pair has moved below the significant 1.3190 support level &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/12\/09\/fx-technical-analysis-audnzd-more-downward-pressure-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FX Technical Analysis \u2013 AUD\/NZD \u2013 More Downward Pressure&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-25904","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=25904"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25904\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=25904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=25904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=25904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}