12 Feb 2015
AUD/NZD falls to 5-week lows
FXStreet (Mumbai) - The Australian dollar falls against its Oz counterpart in the Asian session, extending its long run of losses, largely on AUD weakness.
Supported above 1.0400
Currently, the AUD/NZD pair traded at 1.0428 levels, -0.44% lower on the day, having slumped to fresh five week lows at 1.0414 levels some time ago. The cross in AUD/NZD fell largely on Aussie weakness after Australian unemployment rate soared to highest in 12 years, dragging the Aussie lower. However, the losses in AUD/NZD remained restricted as the Kiwi too loses strength after NZ manufacturing activity hit a two year low.
The cross edges lower as the AUD/USD trades at 0.7655 levels, down -0.78% on the day. While NZD/USD also trades lower by -0.38% to trade at 0.7339, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0499 (5-DMA) levels, above which gains could be extended to 1.0543 (10-DMA) levels. On the flip side, support is seen at 1.0400 levels, from here it to below 1.0383 levels.
Supported above 1.0400
Currently, the AUD/NZD pair traded at 1.0428 levels, -0.44% lower on the day, having slumped to fresh five week lows at 1.0414 levels some time ago. The cross in AUD/NZD fell largely on Aussie weakness after Australian unemployment rate soared to highest in 12 years, dragging the Aussie lower. However, the losses in AUD/NZD remained restricted as the Kiwi too loses strength after NZ manufacturing activity hit a two year low.
The cross edges lower as the AUD/USD trades at 0.7655 levels, down -0.78% on the day. While NZD/USD also trades lower by -0.38% to trade at 0.7339, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0499 (5-DMA) levels, above which gains could be extended to 1.0543 (10-DMA) levels. On the flip side, support is seen at 1.0400 levels, from here it to below 1.0383 levels.