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8 Jan 2015
AUD/NZD moves away from record low
FXStreet (Mumbai) - The Australian dollar advanced against the New Zealand counterpart in the Asian morning, snapping two consecutive days of losses, as the Aussie remains supported on upbeat Oz building consents data.
Currently, the AUD/NZD pair trades at 1.0406 levels, up 0.26% on the day, having posted day’s low at 1.0391 levels in the early Asian morning, inching closer to all time low levels. The cross in AUD/NZD climbed higher largely on the Aussie strength after approvals for new buildings in Australia unexpectedly rose in November compared with a month earlier and were up strongly over the year.
Approvals for newly-constructed buildings were up a 7.5% m/m in November following an 11.5% surge in October, against an expected drop of 2.7% in November.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0439 (Jan 7 High) levels, above which gains could be extended to 1.0495 (Dec 31 High) levels. On the flip side, support is seen at 1.0391 (Today’s Low) levels, from here it to below 1.0347 (Jan 7 Low) levels.
Currently, the AUD/NZD pair trades at 1.0406 levels, up 0.26% on the day, having posted day’s low at 1.0391 levels in the early Asian morning, inching closer to all time low levels. The cross in AUD/NZD climbed higher largely on the Aussie strength after approvals for new buildings in Australia unexpectedly rose in November compared with a month earlier and were up strongly over the year.
Approvals for newly-constructed buildings were up a 7.5% m/m in November following an 11.5% surge in October, against an expected drop of 2.7% in November.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0439 (Jan 7 High) levels, above which gains could be extended to 1.0495 (Dec 31 High) levels. On the flip side, support is seen at 1.0391 (Today’s Low) levels, from here it to below 1.0347 (Jan 7 Low) levels.