- AUD/NZD is accumulating minor gains in the Asian session.
- Risk-on sentiment weighs on the cross.
- Aussie surrenders gains after China turns hostile towards economic dialogue.
The depreciating Aussie kept gains in possession for AUD/NZD price in the Asian session. The cross recovered handsomely on Thursday from the lows of 1.0718 to close near 1.0768.
At the time of writing, AUD/NZD is trading at 1.0767, up 0.15% on the day.
The move is exclusively sponsored by the ongoing economic-political animosity between China and Australia. China indefinitely suspended economic negotiation with its Australian counterpart on Thursday.
The spat indirectly benefited the high-risk NZD, as the move is corroborated by a report from ANZ Research, that stated NZD would enjoy much appreciation on global growth optimum and re-opening of the economy on its higher beta valuation in the coming few months.
Meanwhile, the Australian Industry Group (AiG) Australian Performance of Service Index rose to 61 in April from 58.7, which aids some constructive bids for the cross.
Investors are eagerly waiting for the release of the Caixin China General Composite PMI, and Balance of Trade in China, however, the centre of attraction remains the US Nonfarm Payrolls data later in the day.
AUD/NZD additional levels
|Today last price||1.0765|
|Today Daily Change||0.0005|
|Today Daily Change %||0.05|
|Today daily open||1.076|
|Previous Daily High||1.0787|
|Previous Daily Low||1.0716|
|Previous Weekly High||1.0809|
|Previous Weekly Low||1.0698|
|Previous Monthly High||1.0927|
|Previous Monthly Low||1.0698|
|Daily Fibonacci 38.2%||1.076|
|Daily Fibonacci 61.8%||1.0743|
|Daily Pivot Point S1||1.0722|
|Daily Pivot Point S2||1.0683|
|Daily Pivot Point S3||1.0651|
|Daily Pivot Point R1||1.0793|
|Daily Pivot Point R2||1.0826|
|Daily Pivot Point R3||1.0864|
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