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7 Feb 2013
Forex: Kiwi prints fresh 1-week lows still above 0.8350
NZD/USD is currently at 0.8360 bids, off recent session and 1-week lows at 0.8350, following first weak NZ jobs data and second Aussie jobs report. NZ unemployment rate fell to 6.9%, more than the expected 7.1% which was a good new, but market participants did not like it did come with a lower participation rate at 65%, and quarterly employment growth at -1%.
Initially, the pair sold off from session highs at 0.8455 to temporary session lows around the 0.8390 level, for then, after Aussie jobs data, pushing lower to mentioned fresh 1-week lows. All in all, NZD/USD is down -1.16% for the week so far, with next week's NZ retail sales as main local risk event in the horizon.
Immediate support to the downside for NZD/USD lies at recent 1-week/Jan 25-31 lows 0.8354/42, followed by Jan 17 lows at 0.8327, and Nov 07 highs at 0.8309. To the upside, closest resistance shows at yesterday's London session lows 0.8389, followed by Friday's lows/Jan 25 highs at 0.8394, and Tuesday's lows at 0.8410.
Initially, the pair sold off from session highs at 0.8455 to temporary session lows around the 0.8390 level, for then, after Aussie jobs data, pushing lower to mentioned fresh 1-week lows. All in all, NZD/USD is down -1.16% for the week so far, with next week's NZ retail sales as main local risk event in the horizon.
Immediate support to the downside for NZD/USD lies at recent 1-week/Jan 25-31 lows 0.8354/42, followed by Jan 17 lows at 0.8327, and Nov 07 highs at 0.8309. To the upside, closest resistance shows at yesterday's London session lows 0.8389, followed by Friday's lows/Jan 25 highs at 0.8394, and Tuesday's lows at 0.8410.