FXstreet.com (San Francisco) - AUD/NZD continues to hover around weekly highs in Asia as it trades in range between 1.2939 and 1.2979, last at 1.2964.
The cross gained ground for a fifth straight day overnight Thursday, ending the NA session at 1.2973 vs. 1.2848 at the end of trading last Friday. At current levels, AUD/NZD is recording about a 1% gain on the week.
To the upside, the 50% Fibonacci retracement level of the decline from 1.3767 to 1.2318 is noted at 1.3044, which may provide resistance should the pair rally further. To the downside, support lies at the 9-day EMA at 1.2905.
The cross gained ground for a fifth straight day overnight Thursday, ending the NA session at 1.2973 vs. 1.2848 at the end of trading last Friday. At current levels, AUD/NZD is recording about a 1% gain on the week.
To the upside, the 50% Fibonacci retracement level of the decline from 1.3767 to 1.2318 is noted at 1.3044, which may provide resistance should the pair rally further. To the downside, support lies at the 9-day EMA at 1.2905.
