16 Jan 2015
AUD/NZD trades below 5-DMA
FXStreet (Mumbai) - The Australian dollar advanced versus its Oz counterpart today, as markets cheered rebound seen in oil and copper prices.
Currently, the AUD/NZD pair trades at 1.0520, up 0.20% on the day, having posted day’s low at 1.0533 an hour ago. The cross in AUD/NZD climbed higher largely on the Aussie strength versus the greenback on positive labour data released yesterday. However, the major support for the Aussie came in yesterday when US disappointing retails sales data pushed the US dollar lower. Moreover, recovery in copper and oil prices also added to the gains in the AUD/NZD cross.
The cross remains supported as the AUD/USD trades at 0.8227 levels, up 0.16% on the day. While NZD/USD trades almost flat at 0.7822, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0524 (5-DMA) levels, above which gains could be extended to 1.0545 (Jan 6 High) levels. On the flip side, support is seen at 1.0472 (Jan 5 Low) levels, from here it to below 1.0435 (Jan 1 Low) levels.
Currently, the AUD/NZD pair trades at 1.0520, up 0.20% on the day, having posted day’s low at 1.0533 an hour ago. The cross in AUD/NZD climbed higher largely on the Aussie strength versus the greenback on positive labour data released yesterday. However, the major support for the Aussie came in yesterday when US disappointing retails sales data pushed the US dollar lower. Moreover, recovery in copper and oil prices also added to the gains in the AUD/NZD cross.
The cross remains supported as the AUD/USD trades at 0.8227 levels, up 0.16% on the day. While NZD/USD trades almost flat at 0.7822, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0524 (5-DMA) levels, above which gains could be extended to 1.0545 (Jan 6 High) levels. On the flip side, support is seen at 1.0472 (Jan 5 Low) levels, from here it to below 1.0435 (Jan 1 Low) levels.