23 Oct 2014
AUD/NZD soars and approaches 1.1200
FXStreet (Córdoba) - AUD/NZD is having the best 24 hours since the beginning of the month, in which it rose more than 150 pips. Recently printed a fresh high at 1.1196, strongest level since October 8.
The pair started to rally on Wednesday after breaking above 1.1050, that was an important short term resistance. Later, a lower-than-expected reading of the 3Q CPI in New Zealand, pushed the kiwi to the downside across the board, and AUD/NZD soared a hundred pips in a few hours.
Outlook improves for AUD/NZD
The aussie is headed toward the first weekly gain after falling in the previous two and could post the second highest close for 2014, as it continues to rebound from 1.0980, that has become a key short term support.
The pair started to rally on Wednesday after breaking above 1.1050, that was an important short term resistance. Later, a lower-than-expected reading of the 3Q CPI in New Zealand, pushed the kiwi to the downside across the board, and AUD/NZD soared a hundred pips in a few hours.
Outlook improves for AUD/NZD
The aussie is headed toward the first weekly gain after falling in the previous two and could post the second highest close for 2014, as it continues to rebound from 1.0980, that has become a key short term support.