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7 Mar 2014
AUD/NZD hits fresh weekly highs above 1.0730
FXStreet (Córdoba) - The AUD/NZD was finally able to consolidate above 1.0700 and gained upside momentum. Early in Asia, as RBA governor speaks in Australia, the pair is trading barely above yesterday's highs and recently rose to 1.0737.
This time was different for the AUD/NZD
The history was repeating again for the AUD/NZD: after rising above 1.0700 following trade and retail sales data from Australia, pulled back, repeating what it did on Wednesday (after GDP data) and Tuesday (RBA statement). But on Thursday the retreat was smaller and it was followed by a bullish run, that send the pair back above 1.0700 and this time, it was able to consolidate above, posting the highest daily close since February 26.
During the American session the AUD/NZD pulled back, finding support at 1.0708 and currently trades at the highs, hovering around 1.0730 as Glenn Stevens answers questions at the Australian Parliament.
This time was different for the AUD/NZD
The history was repeating again for the AUD/NZD: after rising above 1.0700 following trade and retail sales data from Australia, pulled back, repeating what it did on Wednesday (after GDP data) and Tuesday (RBA statement). But on Thursday the retreat was smaller and it was followed by a bullish run, that send the pair back above 1.0700 and this time, it was able to consolidate above, posting the highest daily close since February 26.
During the American session the AUD/NZD pulled back, finding support at 1.0708 and currently trades at the highs, hovering around 1.0730 as Glenn Stevens answers questions at the Australian Parliament.