FxWirePro: Kiwi gains in early hours of Asia on robust job data release
AUD/NZD is currently trading around 1.0554 marks. Pair made intraday high at 1.0581 and low at 1.0508 marks. Intraday bias remains bearish till the time pair holds key resistance at 1.0652 marks. A sustained close above …
Pair made intraday high at 1.0581 and low at 1.0508 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1.0652 marks.
A sustained close above 1.0652 will drag the parity higher towards 1.0709/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, current down fall will take the parity down towards key supports around 1.0497, 1.0450, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend.
New Zealand's unemployment rate fell to 5.1% in the June quarter vs 5.2% previous release.
On the other side, New Zealand’s employment change released with positive numbers at 2.4% Q/Q vs 1.4% Q/Q previous release.
In addition, New Zealand's PPI index rose to 0.9% Q/Q vs -1.0% Q/Q.
