7 Aug 2013
AUD/NZD managing to stay positive for the week as NZ unemployment worsens
FXstreet.com (Barcelona) - The AUD/NZD foreign exchange cross rate is last trading at 1.1371 bids, still marginally in the positive for the week as Kiwi falls from session and weekly highs on worse than expected unemployment.
AUD/NZD strength still missing
Coming from a previous 6.2%, unemployment rate in New Zealand has risen to a 6.4% when 6.3% was the expected figure. The cross AUD/NZD still takes advantage of massive sell-off in Kiwi at the weekly open following news on potential contamination from Fonterra dairy products, taking the cross to as high as 1.1520 at the open, easing from there ever since.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at Thursday's highs/weekly close at 1.1360, followed by and July 30 lows at 1.3223, and Friday's lows at 1.1257.To the upside, closest resistance shows at July 29 lows 1.1430, followed by July 29/30 highs at 1.1484, and Monday's weekly highs at 1.1519.
AUD/NZD strength still missing
Coming from a previous 6.2%, unemployment rate in New Zealand has risen to a 6.4% when 6.3% was the expected figure. The cross AUD/NZD still takes advantage of massive sell-off in Kiwi at the weekly open following news on potential contamination from Fonterra dairy products, taking the cross to as high as 1.1520 at the open, easing from there ever since.
AUD/NZD key technical levels
Immediate support to the downside for AUD/NZD lies at Thursday's highs/weekly close at 1.1360, followed by and July 30 lows at 1.3223, and Friday's lows at 1.1257.To the upside, closest resistance shows at July 29 lows 1.1430, followed by July 29/30 highs at 1.1484, and Monday's weekly highs at 1.1519.