AUD/NZD Price Analysis: Drops hard on big Retail Sales miss to test 50% mean reversion Technical Analysis AUDNZD
AUD/NZD Fibonacci scale is being run, but bulls are lurking. AUD/NZD has been on the backside of the dominant bear trend that has been in play since the end of September but is on the backside of the correction of the trend as well. Nevertheless, there are prospects of a move higher according to the following daily charts:The upside is favourable with the tepid correction into the 50% mean reversion area but there is room to go should the bears fancy a crack at the 61.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/NZD sees range extension above 1.0950 on solid NZ Trade Balance dataThe AUD/NZD pair has displayed a sharp recovery move after a gap down open to near 1.0926 in the early Asian session. The cross is picking strength de
Read more »
Australia Retail Sales to continue its outperformance, rising 0.5% MoM in December – TDSAustralia Retail Sales to continue its outperformance, rise by 0.5% m/m in December – TDS – by hareshmenghani RetailSales Australia Inflation RBA Banks
Read more »
AUD/JPY corrects below 92.00 ahead of Australian Retail SalesThe AUD/JPY pair has corrected firmly below the crucial support of 92.00 in the early Asian session. The risk barometer witnessed a steep fall after f
Read more »
When is Australia Retail Sales and how could it affect AUD/USD?Early Tuesday, market sees preliminary readings of Australia's seasonally adjusted Retail Sales for December month at 00:30 GMT. Market consensus sugg
Read more »
AUD/USD tumbles to near 0.7030 on downbeat Australian Retail SalesThe AUD/USD pair has sensed immense selling pressure and has dropped to near 0.7030 as the Australian Bureau of Statistics has reported downbeat month
Read more »
Could taxed marijuana sales lower Texans’ property taxes?Texans pay some of the highest property taxes in the country, and listeners have a lot of thoughts about how that could be addressed. One unconventional idea we’ve heard: offsetting homeowners’ tax bills with revenue from legal weed. So, could that actually work?
Read more »