AUD/NZD recovery limited

FXStreet (Córdoba) - The AUD/NZD pair is trading flat on Friday after finding resistance around 1.0450. Yesterday it dropped to 1.0348, reaching the lowest price in four weeks, weakened by the Australian jobs report. The pair was rejected from below 1.0400 and during Friday’s Asian session attempted to extended the recovery but it was limited.

It reached a daily high at 1.0451 but then bounce back toward 1.0400 and currently trades at 1.0415/20, at the same level it closed yesterday.

The pair is headed toward the second weekly close in a row , after being unable to hold above 1.0700. Despite being able to trade above 2015 lows, the aussie is about to post the lowest weekly close in decades against the kiwi.