- AUD/NZD remains firm above 50-day EMA after Australia’s July month employment data beat estimates.
- 200-day EMA, 61.8% Fibonacci retracement becomes the key upside resistance to watch.
Australia’s upbeat employment statistics propelled additional strength in the AUD/NZD pair that takes the bids around 1.0510 during Thursday’s Asian session.
Australian Employment Change grew past-14.0K forecast to 41.0K with Unemployment Rate being stable at 5.2%. Adding to note is the increase in Participation Rate to 66.1% from 66.0% market consensus and a rise in Fulltime Employment to 34.5K from 21.1K prior.
If bulls rule beyond 1.0554 on a daily closing basis, mid-June high of 1.0591 will be their next target.
Meanwhile, 50-day EMA level of 1.0473 acts as close support before sellers target July 01 bottom of 1.0425.
AUD/NZD daily chart
Additional important levels
|Today last price||1.0514|
|Today Daily Change||0.0030|
|Today Daily Change %||0.29%|
|Today daily open||1.0484|
|Previous Daily High||1.0545|
|Previous Daily Low||1.0476|
|Previous Weekly High||1.0523|
|Previous Weekly Low||1.0263|
|Previous Monthly High||1.0554|
|Previous Monthly Low||1.0383|
|Daily Fibonacci 38.2%||1.0503|
|Daily Fibonacci 61.8%||1.0519|
|Daily Pivot Point S1||1.0459|
|Daily Pivot Point S2||1.0433|
|Daily Pivot Point S3||1.039|
|Daily Pivot Point R1||1.0527|
|Daily Pivot Point R2||1.0571|
|Daily Pivot Point R3||1.0596|
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