The Australian Dollar (AUD) slid downside against the New Zealand Dollar (NZD) after stats with respect to change in the rate of employment went down to 0.5K on Thursday. It remained way lower than the economists had anticipated.

The Australian Bureau of Statistics releases stats concerning employment change in the country. It provides an idea about the prevailing conditions of the job market in Australia. A higher reading shows that an increased number of employees are working to earn a livelihood, whereas a lower reading indicates a bearish market for the Australian Dollar.

On the other hand, the Australian Bureau of Statistics releases somewhat favorable news for the Australian dollar. The data tells that the trade balance improved during the last quarter and stayed around 5745 M, as it was 4820, the quarter before.

The economists also indicated an uprise in the said data by giving a value of 4820 M. It is to be noted that the trade balance represents the difference between import and export levels of the country. Both imports and exports levels stayed in coherence followed by a reasonable domestic demand in terms of imports and an unchanged or improved demand in exchange for exports of the country. So, the pair is believed to start moving positively.

The pair continues sinking since last week, which can be seen in the graph below. It is quite likely that the pair will keep sliding downward until or unless it gets a strong reversal.

Conclusion

Trading AUDNZD may not be a better idea for a short term position. However, it may get a reversal around 1.0384 and start recovering again. If this happens, trading pair for a long term position would give positive results.