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6 Feb 2015
AUD/NZD eyes 1.0600
FXStreet (Córdoba) - The aussie is consolidating daily gains versus the kiwi and is trading near the 1.0600 area, testing today’s highs ahead of the US employment report.
AUD/NZD rose during the Asian session to 1.0585, reaching a 2-day high, despite RBA downgrade of inflation and growth forecasts and political turmoil in Australia. Afterwards the pair pulled back but found support at 1.0535 and climbed back toward the highs.
The area around 1.0585 is an important short term resistance that capped the upside also yesterday. If it breaks higher, the next resistance could be located at 1.0600 and 1.0655/60 (Jan 30 low). To the downside, immediate support lies at 1.0535 (European session low) and 1.0510 and 1.0490.
AUD/NZD rose during the Asian session to 1.0585, reaching a 2-day high, despite RBA downgrade of inflation and growth forecasts and political turmoil in Australia. Afterwards the pair pulled back but found support at 1.0535 and climbed back toward the highs.
The area around 1.0585 is an important short term resistance that capped the upside also yesterday. If it breaks higher, the next resistance could be located at 1.0600 and 1.0655/60 (Jan 30 low). To the downside, immediate support lies at 1.0535 (European session low) and 1.0510 and 1.0490.