12 Jan 2015
AUD/NZD hits fresh 1-Week High
FXStreet (Mumbai) - The Australian dollar outperformed its Oz counterpart in the Asian session, reaching fresh weekly highs as solid Australian job Ad data continues to lift the Aussie.
Currently, the AUD/NZD pair posts fresh one-week high at 1.0518 levels, up 0.46% on the day, having posted day’s low at 1.0473 levels in the early Asian morning. The cross in AUD/NZD climbed higher largely on the Aussie strength versus the greenback as traders saw a rise in Australian job adverts, signalling a recovery in the labour market. However, the major support for the Aussie came last week when the non-farm payrolls report from the US showed weak wage growth which disappointed markets.
The cross remains supported as the AUD/USD trades at intraday high of 0.8252 levels, up 0.60% on the day. While NZD/USD trades almost flat at 0.7845, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0545 (Jan 6 High) levels, above which gains could be extended to 1.0573 (Jan 5 High) levels. On the flip side, support is seen at 1.0472 (Jan 5 Low) levels, from here it to below 1.0435 (Jan 1 Low) levels.
Currently, the AUD/NZD pair posts fresh one-week high at 1.0518 levels, up 0.46% on the day, having posted day’s low at 1.0473 levels in the early Asian morning. The cross in AUD/NZD climbed higher largely on the Aussie strength versus the greenback as traders saw a rise in Australian job adverts, signalling a recovery in the labour market. However, the major support for the Aussie came last week when the non-farm payrolls report from the US showed weak wage growth which disappointed markets.
The cross remains supported as the AUD/USD trades at intraday high of 0.8252 levels, up 0.60% on the day. While NZD/USD trades almost flat at 0.7845, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0545 (Jan 6 High) levels, above which gains could be extended to 1.0573 (Jan 5 High) levels. On the flip side, support is seen at 1.0472 (Jan 5 Low) levels, from here it to below 1.0435 (Jan 1 Low) levels.