20 Jan 2015
AUD/NZD posts fresh daily highs, just a whisker short of 1.0600
FXStreet (Mumbai) - The Australian dollar outperformed its Oz counterpart in the late-Asian session as traders continue to digest upbeat Chinese GDP numbers.
Currently, the AUD/NZD pair hit fresh day’s high at 1.0596 levels, 0.43% higher on the day. The cross in AUD/NZD advanced largely as Aussie recovered partial losses versus the greenback after positive Chinese data calmed demands concern from China, Oz top trading partner. However, the favourable data failed to provide any relief to the NZD/USD pair which continues to sink on renewed USD strength.
The cross edges higher as the AUD/USD trades at 0.8184 levels, down -0.33% on the day. While NZD/USD trades slipped -0.74% to trade at 0.7724, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0604 (50-DMA) levels, above which gains could be extended to 1.0643 levels. On the flip side, support is seen at 1.0550 (5-DMA) levels, from here it to below 1.0529 (10-DMA) levels.
Currently, the AUD/NZD pair hit fresh day’s high at 1.0596 levels, 0.43% higher on the day. The cross in AUD/NZD advanced largely as Aussie recovered partial losses versus the greenback after positive Chinese data calmed demands concern from China, Oz top trading partner. However, the favourable data failed to provide any relief to the NZD/USD pair which continues to sink on renewed USD strength.
The cross edges higher as the AUD/USD trades at 0.8184 levels, down -0.33% on the day. While NZD/USD trades slipped -0.74% to trade at 0.7724, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0604 (50-DMA) levels, above which gains could be extended to 1.0643 levels. On the flip side, support is seen at 1.0550 (5-DMA) levels, from here it to below 1.0529 (10-DMA) levels.