6 May 2014
AUD/NZD finds support at 1.0650
FXStreet (Córdoba) - The AUD/NZD managed to recover in the last hours, erased losses and currently trades at 1.0687, around the same price it had at the beginning of the day ahead of the release of important economic data from New Zealand.
AUD/NZD recovers from 5-week lows
On European hours the pair fell to 1.0648, lowest level since April 1, extending to 200 pips the decline from the price it had a week ago.
The short term bias still points to the downside but the Aussie has been able to remove some pressure in the last hours. Weak data from New Zealand (the employment report will be release at 22:45 GMT) could boost the pair while a better-than-expected report could weakened toward multi-year lows.
AUD/NZD recovers from 5-week lows
On European hours the pair fell to 1.0648, lowest level since April 1, extending to 200 pips the decline from the price it had a week ago.
The short term bias still points to the downside but the Aussie has been able to remove some pressure in the last hours. Weak data from New Zealand (the employment report will be release at 22:45 GMT) could boost the pair while a better-than-expected report could weakened toward multi-year lows.