- AUD/NZD bounces off 1.0730 support confluence after AU Unemployment rate’s surprise decline.
- A sustained break beyond 1.0785 can take aim at September high.
With the market’s upbeat reaction to a 0.1% decline in Australia’s seasonally adjusted unemployment rate, AUD/NZD takes the bids to 1.0780 by the press time of early Thursday.
Read: Australian Unemployment rate 0.1% lower and AUD rallies some 30 pips
The pair now needs a successful break of multiple resistance-lines ranged from mid-September, around 1.0780/85 to aim for 1.0800 and September month high of 1.0852.
Meanwhile, a downside break below 1.0730 support-joint including 200-bar Simple Moving Average (SMA) and 38.2% Fibonacci retracement of August-September rise could drag prices to the one-week-old ascending trend line of 1.0695.
Also, pair’s declines below 1.0695 can well aim for 61.8% Fibonacci retracement level of 1.0650 and the 1.0630 support level.
AUD/NZD 4-hour chart
Trend: pullback expected
|Today last price||1.078|
|Today Daily Change||0.0038|
|Today Daily Change %||0.35%|
|Today daily open||1.0742|
|Previous Daily High||1.0779|
|Previous Daily Low||1.0685|
|Previous Weekly High||1.0736|
|Previous Weekly Low||1.0643|
|Previous Monthly High||1.0852|
|Previous Monthly Low||1.063|
|Daily Fibonacci 38.2%||1.0743|
|Daily Fibonacci 61.8%||1.0721|
|Daily Pivot Point S1||1.0692|
|Daily Pivot Point S2||1.0641|
|Daily Pivot Point S3||1.0597|
|Daily Pivot Point R1||1.0786|
|Daily Pivot Point R2||1.083|
|Daily Pivot Point R3||1.088|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.