16 Feb 2015
AUD/NZD: Trading at yearly lows
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0379 with a high of 1.0398 and a low of 1.0371.
AUD/NZD is suffering and now down below the 1.04 handle, just shy of yearly lows at 1.0352 (6th Jan this year). We are in familiar territory in respect of both fundamentals and from a technical point to view, with little here this week that will likely make any shakes one way or another, given with the RBA we are on the same chapter and until the FOMC, the markets do not have impetus to break through familiar ranges.
In respect of the RBA, markets heard from Stevens last week in his Statement of Monetary Policy where the same jawboning tactics of the Aussie took place and in general the theme of a lower Aussie was stoked. We are nevertheless at levels further lows and the divergences remain compelling. The bearish theme remains in tact.
AUD/NZD is suffering and now down below the 1.04 handle, just shy of yearly lows at 1.0352 (6th Jan this year). We are in familiar territory in respect of both fundamentals and from a technical point to view, with little here this week that will likely make any shakes one way or another, given with the RBA we are on the same chapter and until the FOMC, the markets do not have impetus to break through familiar ranges.
In respect of the RBA, markets heard from Stevens last week in his Statement of Monetary Policy where the same jawboning tactics of the Aussie took place and in general the theme of a lower Aussie was stoked. We are nevertheless at levels further lows and the divergences remain compelling. The bearish theme remains in tact.