9 Jan 2015
AUD/NZD extends gains, resistance seen at 5-DMA
FXStreet (Mumbai) - The Australian dollar trades higher against the New Zealand dollar in the mid-European session, Aussie coming out as a clear winner versus its Oz counterpart today as most of the market eagerly await US NFP report.
Currently, the AUD/NZD pair trades at 1.0414 levels, up 0.34% on the day, rebounding from historic lows of 1.0347 levels reached earlier in this week. The cross in AUD/NZD firmed today largely on chart-based gains as the cross looks highly oversold in the daily charts and the AUD bids are seen on rise at 1.0350 levels.
The NZD/USD pair trades muted ahead of US jobs data, while AUD/USD is holding onto gains at 0.8141 levels, up 0.23% on the day.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0439 (Jan 7 High) levels, above which gains could be extended to 1.0495 (Dec 31 High) levels. On the flip side, support is seen at 1.0358 (Jan 8 Low) levels, from here it to below 1.0347 (Jan 7 Low) levels.
Currently, the AUD/NZD pair trades at 1.0414 levels, up 0.34% on the day, rebounding from historic lows of 1.0347 levels reached earlier in this week. The cross in AUD/NZD firmed today largely on chart-based gains as the cross looks highly oversold in the daily charts and the AUD bids are seen on rise at 1.0350 levels.
The NZD/USD pair trades muted ahead of US jobs data, while AUD/USD is holding onto gains at 0.8141 levels, up 0.23% on the day.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0439 (Jan 7 High) levels, above which gains could be extended to 1.0495 (Dec 31 High) levels. On the flip side, support is seen at 1.0358 (Jan 8 Low) levels, from here it to below 1.0347 (Jan 7 Low) levels.