14 Mar 2014
AUD/NZD stabilizes around 1.0570
FXStreet (Córdoba) - After sharp moves following a rate hike in New Zealand and the employment report of Australia, the AUD/NZD stabilized around 1.0570 and continues quiet early in Asia.
After dropping to 1.0537, jumped to 1.0613 after jobs data but the pair failed to hold above and pulled back. Since yesterday’s European session the AUD/NZD is trading in a range, moving sideways with support at 1.0555 and resistance at 1.0590. The pair is headed toward a weekly decline of a hundred pips approximately, losing February gains.
Levels to watch for AUD/NZD
To the downside, immediate support lies at 1.0530/40; below here attention would turn to 2014 lows located at 1.0485. To the upside, resistance could be located at 1.0730 and above here the key level is 1.0900.
After dropping to 1.0537, jumped to 1.0613 after jobs data but the pair failed to hold above and pulled back. Since yesterday’s European session the AUD/NZD is trading in a range, moving sideways with support at 1.0555 and resistance at 1.0590. The pair is headed toward a weekly decline of a hundred pips approximately, losing February gains.
Levels to watch for AUD/NZD
To the downside, immediate support lies at 1.0530/40; below here attention would turn to 2014 lows located at 1.0485. To the upside, resistance could be located at 1.0730 and above here the key level is 1.0900.