6 Nov 2014
NZD/USD breaking below key 0.77 post Aus jobs
FXStreet (Bali) - NZD/USD is breaking key support at 0.7700/0.7690 again, following the failed attempt on Wed, with current price at 0.7685 following a brief drive through 0.7670.
The decline in the Aussie dragged the Kiwi lower too, with the former reacting negatively to a better-than-expected Aus jobs headline, although it came with some massive negative revisions to the Sept data, with full time employment in Sept revised from 21.6k, now -34.9k, while part time went from -51.3k to +11.2k.
A clear break below 0.7690 would expose the next key area of support at 0.7500, May 2012 lows. While on the upside, recoveries should find selling interest layered at 0.7740/60.
The decline in the Aussie dragged the Kiwi lower too, with the former reacting negatively to a better-than-expected Aus jobs headline, although it came with some massive negative revisions to the Sept data, with full time employment in Sept revised from 21.6k, now -34.9k, while part time went from -51.3k to +11.2k.
A clear break below 0.7690 would expose the next key area of support at 0.7500, May 2012 lows. While on the upside, recoveries should find selling interest layered at 0.7740/60.