AUD/NZD bulls have been thrown a major life-line today on a very solid jobs data, significantly in the full-time jobs sector which has sent the Aussie flying towards the 1.05 handle vs the NZD.
AUD/NZD is currently trading at 1.0480 from a low of 1.0435, having traded at 1.0488 and leaves the long term support line intact.
AUD/NZD has so far managed to hold the key horizontal support line est. since June 2017, tested again 13th Feb 2019, despite a series of downbeat data and dovish rhetoric from the Aussie economy and the RBA. However, this data today will now leave that line in the sand in the rearview mirror and the cross can extend its correction towards an upside target that is located at the 38.2% fibo target in the 1.0560s.
AUD/NZD is currently trading at 1.0480 from a low of 1.0435, having traded at 1.0488 and leaves the long term support line intact.
AUD/NZD has so far managed to hold the key horizontal support line est. since June 2017, tested again 13th Feb 2019, despite a series of downbeat data and dovish rhetoric from the Aussie economy and the RBA. However, this data today will now leave that line in the sand in the rearview mirror and the cross can extend its correction towards an upside target that is located at the 38.2% fibo target in the 1.0560s.