22 Jul 2015
AUD/NZD extends recovery towards 1.1200
FXStreet (Mumbai) - AUD/NZD erased most losses and trades modestly flat in the mid-Asian trades, after the Australian dollar was pounded by its OZ neighbours as markets reacted negatively to RBA Governor Stevens speech on monetary policy at the Anika Foundation on Wednesday.
AUD/NZD bounces off 1.1143 – session lows
Currently, the AUD/NZD cross trades flat at 1.1193, swiftly recovering from session lows reached at 1.1143. The cross in AUD/NZD swung between gains and losses, unable to sustain above 1.12 threshold as markets digest the latest comments from RBA Stevens.
The Central banker on one hand talked down on the AUD and maintained its easing bias while on the other hand delivered positive comments on the economy and the labour market which provided cushion to the Aussie slide somewhat.
AUD/NZD also remains supported as the NZD erased previous gains and dropped tracking tis Australian counterpart lower.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.1206 (Today’s High) levels, above which gains could be extended to 1.1243 (July 21 High) levels. On the flip side, support is seen at 1.1143 (Today’s Low) levels from here it to 1.1116 (July 21 Low) levels.
AUD/NZD bounces off 1.1143 – session lows
Currently, the AUD/NZD cross trades flat at 1.1193, swiftly recovering from session lows reached at 1.1143. The cross in AUD/NZD swung between gains and losses, unable to sustain above 1.12 threshold as markets digest the latest comments from RBA Stevens.
The Central banker on one hand talked down on the AUD and maintained its easing bias while on the other hand delivered positive comments on the economy and the labour market which provided cushion to the Aussie slide somewhat.
AUD/NZD also remains supported as the NZD erased previous gains and dropped tracking tis Australian counterpart lower.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.1206 (Today’s High) levels, above which gains could be extended to 1.1243 (July 21 High) levels. On the flip side, support is seen at 1.1143 (Today’s Low) levels from here it to 1.1116 (July 21 Low) levels.