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8 Jan 2015
AUD/NZD reclaims 1.04 after Aus housing data
FXStreet (Bali) - AUD/NZD was able to surge through 1.0390 resistance, settling now into its old range box, after printing a session high of 1.0418 on the back of of upbeat Australian housing data.
Figures on Australian building permits came well above expectations, with the monthly read for November at +10.1% vs -3.5% exp and 11.5% last - revised higher -, with the yearly read at 7.5% vs 2.5% last.
Technically, the AUD/NZD remains in a clear downtrend, although the recovery above 1.0390/1.04 should allow Aussie buyers to breathe a sight of relief short term, , with the need to clear 1.0425/30 now in order to build a more constructive outlook for the rest of the week.
Figures on Australian building permits came well above expectations, with the monthly read for November at +10.1% vs -3.5% exp and 11.5% last - revised higher -, with the yearly read at 7.5% vs 2.5% last.
Technically, the AUD/NZD remains in a clear downtrend, although the recovery above 1.0390/1.04 should allow Aussie buyers to breathe a sight of relief short term, , with the need to clear 1.0425/30 now in order to build a more constructive outlook for the rest of the week.