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15 Jan 2015
AUD/NZD back below 1.0500 despite data from Australia
FXStreet (Córdoba) - AUD/NZD erased gains and dropped back below 1.0500 despite the better- than-expected Australian employment report.
During the Asian session boosted by the data the pair climbed to 1.0638, reaching a 4-week highs but then lost momentum and dropped sharply to 1.0467 amid SNB turmoil. Afterwards rose back above 1.0500 but again weakened and currently trades slightly above daily lows.
AUD/NZD near weekly lows
So far the decline of the pair found support above the 1.0460 area that has become an important short term support that capped the downside several times during the current week. If the pair drops below, the next support could be located at 1.0425 (Jan 8 high).
During the Asian session boosted by the data the pair climbed to 1.0638, reaching a 4-week highs but then lost momentum and dropped sharply to 1.0467 amid SNB turmoil. Afterwards rose back above 1.0500 but again weakened and currently trades slightly above daily lows.
AUD/NZD near weekly lows
So far the decline of the pair found support above the 1.0460 area that has become an important short term support that capped the downside several times during the current week. If the pair drops below, the next support could be located at 1.0425 (Jan 8 high).