5 Aug 2015
AUD/NZD hovering around 1.1300 ahead of the Australian employment report
FXStreet (Córdoba) - The aussie was able to erase losses against the kiwi and rose back toward the 1.1300 area, as traders get ready for the release of jobs numbers from Australia (Thursday at 01:30 GMT).
Analysts expect that the unemployment rate remained at 6% in July and a net change in employment of 15.000. Yesterday, in New Zealand, employment numbers showed a slower-than-expected job creation during the second quarter while the unemployment rate rose from 5.8% to 5.9%.
AUD/NZD up 300 pips from weekly lows
On Tuesday the AUD/NZD had the best day in month and climbed from 1.1060, hitting 1.1307 (2-week high) during the American session. Today it pulled back during most of the day and bottomed at 1.1230; then turned again to the upside and currently is trading back above 1.1300, near yesterday’s highs.
The pair holds a bullish tone ahead of key data form Australia. Above 1.1300 the next relevant resistance could be located at 1.1375 (July 16 high), followed by 1.1400 and 1.1430 (2015 high).
Analysts expect that the unemployment rate remained at 6% in July and a net change in employment of 15.000. Yesterday, in New Zealand, employment numbers showed a slower-than-expected job creation during the second quarter while the unemployment rate rose from 5.8% to 5.9%.
AUD/NZD up 300 pips from weekly lows
On Tuesday the AUD/NZD had the best day in month and climbed from 1.1060, hitting 1.1307 (2-week high) during the American session. Today it pulled back during most of the day and bottomed at 1.1230; then turned again to the upside and currently is trading back above 1.1300, near yesterday’s highs.
The pair holds a bullish tone ahead of key data form Australia. Above 1.1300 the next relevant resistance could be located at 1.1375 (July 16 high), followed by 1.1400 and 1.1430 (2015 high).