Currently, AUD/NZD is trading at 1.0624, down -0.50% on the day, having posted a daily high at 1.0696 and low at 1.0613.
AUD/NZD has dropped heavily on a very poor Australian labour market report and brings the RBA back to the drawing board in respect to how to stimulate a very key factor of the economy. Australia's Sept employment report disappoints, major decline in full time jobs
AUD/NZD went from a score on the 1.0696 to 1.0612 on the hourly stick although the Aussie has been relatively resilient on this data in an otherwise bullish environment elsewhere for the currency. The Aussie has grounded on the 0.77 level. Both the bird and Aussie have been outperformers and running up big gains across the board in an oil driven climate with WTI crossing the $52 bbls level overnight.
With spot trading at 1.0624, we can see next resistance ahead at 1.0626 (Yesterday's Low), 1.0633 (Weekly Classic S1), 1.0662 (Daily Classic PP), 1.0666 (Weekly Low) and 1.0667 (Hourly 20 EMA). Support below can be found at 1.0621 (Daily Classic S1), 1.0613 (Daily Low), 1.0594 (Daily 20 SMA), 1.0580 (Daily Classic S2) and 1.0539 (Daily Classic S3).