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15 Jan 2015
AUD/NZD hits one-month high
FXStreet (Mumbai) - The AUD/NZD pair hit a one-month high of 1.0636 after a better-than-expected jobs report reduced fears of a slowdown in Australia.
The pair currently trades 0.53% higher at 1.0612, compared to the previous session’s close at 1.0564 levels. The Aussie gained after the official data showed the Australian economy added 37,400 jobs last month, beating the 5,000 expected, with the bulk being full-time positions. The unemployment rate dipped to 6.1%, which helped the Aussie gain strength. The AUD/USD gained 1% following upbeat jobs data.
Meanwhile, the NZd/USD gained 0.27%, although gains have been capped by prospects of low inflation, which have pulled long term rates lower. Thus, the AUD/NZD cross rose to one-month highs today.
AUD/NZD Technical Levels
The immediate resistance is seen at 1.0639 (50-DMA), above which gains could be extended to 1.0693 levels. Meanwhile, support is seen at 1.0568 (Jan. 5th high) and 1.0537 (5-DMA) levels.
The pair currently trades 0.53% higher at 1.0612, compared to the previous session’s close at 1.0564 levels. The Aussie gained after the official data showed the Australian economy added 37,400 jobs last month, beating the 5,000 expected, with the bulk being full-time positions. The unemployment rate dipped to 6.1%, which helped the Aussie gain strength. The AUD/USD gained 1% following upbeat jobs data.
Meanwhile, the NZd/USD gained 0.27%, although gains have been capped by prospects of low inflation, which have pulled long term rates lower. Thus, the AUD/NZD cross rose to one-month highs today.
AUD/NZD Technical Levels
The immediate resistance is seen at 1.0639 (50-DMA), above which gains could be extended to 1.0693 levels. Meanwhile, support is seen at 1.0568 (Jan. 5th high) and 1.0537 (5-DMA) levels.