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28 Jan 2015
AUD/NZD wavers around 1.0700
FXStreet (Mumbai) - The Australian dollar continued to hold gains versus the Oz counterpart in the mid-European session, as the Aussie broke above the crucial psychological 0.80 levels after a solid inflation report.
AUD/NZD recovers from 1.0625
Currently, the AUD/NZD pair traded at 1.0697 levels, up 0.46% on the day, having posted intraday high at 1.0747 and day’s low at 1.0625 levels. The cross in AUD/NZD climbed higher after Australia’s underlying inflation numbers accelerated which is expected to ease pressure on the country's central bank to go in for a rate cut and refrain from following in the footsteps of Canada's central bank. On the other hand, the kiwi remains well supported ahead of RBNZ policy decision due tomorrow.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0736 levels. On the flip side, support is seen at 1.0600 levels, from here it to below 1.0528 levels.
AUD/NZD recovers from 1.0625
Currently, the AUD/NZD pair traded at 1.0697 levels, up 0.46% on the day, having posted intraday high at 1.0747 and day’s low at 1.0625 levels. The cross in AUD/NZD climbed higher after Australia’s underlying inflation numbers accelerated which is expected to ease pressure on the country's central bank to go in for a rate cut and refrain from following in the footsteps of Canada's central bank. On the other hand, the kiwi remains well supported ahead of RBNZ policy decision due tomorrow.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0736 levels. On the flip side, support is seen at 1.0600 levels, from here it to below 1.0528 levels.