EUR/USD 1.14861
0.199%
Gold 4354.06
2.114%
Oil 96.471
-1.035%
USD/JPY 155.729
-0.350%
GBP/USD 1.33528
-0.202%
GBP/JPY 207.950
-0.548%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Iranian reports, in response to recent inappropriate remarks made by senior German officials against Iran and certain interfering actions taken by the German Embassy in Iran, Iranian Deputy Foreign Minister and Director of the Western European Department, Alireza Youssef, summoned German Ambassador to Tehran, Axel Wilhelm Dietmann, and expressed Irans strong opposition to these actions.French Defense Minister: The 2027 budget will include a savings plan of 54 billion euros.On September 17, Chinese Ambassador to the Netherlands Shen Bo and Secretary General Christophe Bernasconi of the Hague Conference on Private International Law signed a Memorandum of Understanding between the Ministry of Foreign Affairs of the Peoples Republic of China and the Hague Conference on Private International Law on Cooperation in Strengthening Global Governance in The Hague on September 16. The Memorandum of Understanding emphasizes the significant importance of Chinas global governance initiatives and indicates that both sides will cooperate in a manner consistent with the five core principles of these initiatives, promoting their implementation in the field of international law, strengthening exchanges and cooperation on the formulation and implementation of international conventions, and enhancing countries understanding of the "Friends of Global Governance Group." Shen Bo stated that China will use this opportunity to further promote cooperation with the Hague Conference on Private International Law, jointly promote international rule of law and international exchanges, and facilitate the transformation of the concepts of global governance initiatives into practical international cooperation.The U.S. Geological Survey reported a 6.3-magnitude earthquake 167 kilometers west of Nikolsky, Alaska.The U.S. EIA natural gas storage figures for the week ending September 11 will be released in ten minutes.

AUD/NZD Price Analysis: Bulls Surpass 1.0790 Resistance Confluence Due To Positive Australian Employment Report

Alina Haynes

Apr 13, 2023 14:19

 AUD:NZD.png

 

AUD/NZD supporters are approaching their highest levels since early March as a result of a four-day uptrend following Thursday morning's release of robust Australian employment data. At the time of publication, the currency pair is accepting bids to reestablish the multi-day high near 1.0810.

 

The Australia Bureau of Statistics (ABS) reported for the month of March that Employment Change increased by 53K compared to 20K expected and 64.6K previously, while the Unemployment Rate remained unchanged at 3.6% compared to expectations of 3.6%. In addition, the Participation Rate rose to 66.7%, exceeding the 66.7% predicted by the market.

 

The AUD/NZD pair surpassed the previous critical resistance confluence surrounding 1.0790, which was comprised of the 100-day moving average (DMA) and a one-month-old downward trend line.

 

The bullish MACD signals and stronger, non-overbought RSI (14) line contribute to the strength of the upside bias.

 

The AUD/NZD bulls are currently positioned to test the 50-day moving average of 1.0824. However, the preceding monthly apex of about 1.0895 and the round number 1.0900 may limit future gains.

 

Alternately, retracement remains elusive until the AUD/NZD pair remains above the support-turned-resistance level of 1.0790.

 

Then, a breach of the upward-sloping trend line from March 5 and the 61.8% Fibonacci retracement level of the pair's run-up from December 2022 to February 2023, located near 1.0705, could give the bears room to maneuver in their subsequent analysis.


Suggestion