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  • AUD/NZD fails to hold gains earned through Australian employment data.
  • The reason could be spotted from the period of data collection.
  • The pair stays positive above 200-day SMA, 61.8% Fibonacci retracement.

Upbeat Aussie employment data fail to keep AUD/NZD buyers happy for long as the pair drops to 1.0540 after marking a brief uptick to 1.0565 on the data release during early Thursday.

Read: Breaking: Aussie jobs data better than expected, but the caveat is …

Even so, the pair remains above 200-day SMA, not to forget its trading beyond 61.8% Fibonacci retracement of its fall from November 2019 to March 2020.

As a result, buyers remain hopeful to challenge the yearly high surrounding 1.0590 while targeting late-November 2019 top close to 1.0710 during the further upside.

Alternatively, a daily close below 200-day SMA level of 1.0508 could drag the quote to 50% Fibonacci retracement near March 25 high of 1.0400.

AUD/NZD daily chart

Trend: Bullish