FxWirePro: Aussie Gains Against Major Pairs After Employment Data
- AUD/NZD is trading around 1.0706 marks.
- Pair made intraday high at 1.0732 and low at 1.0679 marks.
- A net 10,800 jobs were added to the economy last month, missing analysts' forecast of a 12,100 net increase and down from a revised 25,700 in March.
- In addition, the unemployment rate was unchanged at 5.7% in March.
- Intraday bias remains neutral for the moment.
- A daily close below 1.0704 will take the parity down towards 1.0651 and 1.0574 (February 12, 2016 low) marks.
- On the other side, a sustained close above 1.0771 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms bearish trend.
We prefer to take short position in AUD/NZD around 1.0710, stop loss 1.0783 and target 1.0574 levels.