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8 May 2015
AUD/NZD rises for the third week in a row
FXStreet (Córdoba) - The aussie is falling against the kiwi on Friday for the second day in a row but is still headed toward the third consecutive weekly gain. AUD/NZD hit on Wednesday at 1.0685 the strongest level in three months and then pulled back below 1.0600.
The pair on Friday broke below 1.0580 (May 7 low) and bottomed at 1.0560, the lowest level since Wednesday. Currently is hovering around 1.0575.
AUD/NZD up after employment data and RBA
During the week, employment data from New Zealand and Australia was released. Both reports showed mix information. The Reserve Bank of Australia (RBA) cut the interest rate but the aussie remained resilient.
The rally of AUD/NZD lost strength below 1.0700 and on Thursday and today it faced resistance around at 1.0655 and then retreated.
The pair on Friday broke below 1.0580 (May 7 low) and bottomed at 1.0560, the lowest level since Wednesday. Currently is hovering around 1.0575.
AUD/NZD up after employment data and RBA
During the week, employment data from New Zealand and Australia was released. Both reports showed mix information. The Reserve Bank of Australia (RBA) cut the interest rate but the aussie remained resilient.
The rally of AUD/NZD lost strength below 1.0700 and on Thursday and today it faced resistance around at 1.0655 and then retreated.