22 Jan 2015
AUD/NZD hits fresh 1-Month Highs
FXStreet (Mumbai) - The Australian dollar outperformed its Oz counterpart in the early European morning, as the New Zealand tumbled to fresh two and a half year lows against the greenback.
Currently, the AUD/NZD pair traded at 1.0722 levels, 0.16% higher on the day, having posted one month highs at 1.0737 levels few minutes ago. The cross in AUD/NZD advanced largely on the weakness seen in the Kiwi pair after markets read higher chances of rate cut by RBNZ, after yesterday’s Bank of Canada’s (BOC) decision.
The cross edges higher as the AUD/USD trades at 0.8078 levels, down -0.12% on the day. While NZD/USD trades much lower at 0.7535 levels, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.08 levels, above which gains could be extended to 1.0852 levels. On the flip side, support is seen at 1.0690 levels, from here it to below 1.0653levels.
Currently, the AUD/NZD pair traded at 1.0722 levels, 0.16% higher on the day, having posted one month highs at 1.0737 levels few minutes ago. The cross in AUD/NZD advanced largely on the weakness seen in the Kiwi pair after markets read higher chances of rate cut by RBNZ, after yesterday’s Bank of Canada’s (BOC) decision.
The cross edges higher as the AUD/USD trades at 0.8078 levels, down -0.12% on the day. While NZD/USD trades much lower at 0.7535 levels, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.08 levels, above which gains could be extended to 1.0852 levels. On the flip side, support is seen at 1.0690 levels, from here it to below 1.0653levels.