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AUD/NZD rebounds and rises back above 1.0500

FXStreet (Córdoba) - AUD/NZD managed to erased most of the day losses and rose back above 1.0500; volatility could remain elevated during Thursday's Asian session with the release of the Australian employment report.

The pair bottomed on Wednesday at 1.0459, after falling more than a hundred pips from the highs affected by a decline in copper. Then rebounded, climbed above 1.0500 and during the American session reached 1.0550.

Currently trades at 1.0533, less than 20 pips below yesterday's closing price, falling for the first time in a week as the recovery of the aussie from record low at 1.0350 (Jan 7 low) faced resistance at 1.0570 (Jan 5, 13 and 14 high).

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AUD/USD is currently trading at 0.8146 with a high of 0.8191 and a low of 0.8068 and is down 0.2% on the day.
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