FXstreet.com (San Francisco) - AUD/NZD broke above the 1.2915 resistance area on Wednesday to hit a fresh 5-day high of 1.2931, closing Noram at 1.2901, gaining 15 pips on the day. The market’s recent bounce from the 50% Fibonacci support level at 1.2798 (measuring the move from 1.2320 to 1.3274) is supporting the current positive tone and upward trend bias. Price is virtually unchanged after Statistics New Zealand reported a soft seasonally adjusted Building Permit reading for July at 2.0% vs. a consensus estimate of 3.0%. Support levels are noted at 1.2870 (13 July high) and 1.2855 (50%, 1.2797/1.2913). Resistance may be found at 1.2954 (12 Aug low). AUD/NZD last trades at 1.2910.