AUD/NZD regains poise on upbeat Aus data, 1.0750 back on sight?

A solid jump seen in the Australian building consents data provided fresh impetus to the latest upmove in AUD/NZD.

Australia Building Permits (MoM) came in at 10.9%, above expectations (1.5%) in June

The cross bounced-off a brief dip to 1.0707 and reverted towards weekly highs of 1.0728, after the Aussie received fresh lift from much better-than expected Australian building consents data

AUD/NZD broke to the upside and thereafter rallied hard from 1.0665 to 1.0728 levels, following the release of worse-than expected NZ jobs data, which bettered the Kiwi across the board.

NZ unemployment rate fell to 4.8% in Q2, but jobs and participation down - Westpac

However, further upside appears to lack following amid resurgent broad based US dollar demand, as attention turns towards the US private sector jobs report due later on Wednesday.

Technical Levels

The cross was last seen trading around 1.0716. On the lower side, breach of support at 1.0700 (round number) could yield a pullback to 1.0658 (daily low) and to 1.0627 (100-DMA/ 200-DMA). A break above 1.0750 (key resistance) would expose 1.0803 (Jul 18 top) and 1.0852 (multi-week highs).