29 Jan 2015
AUD/NZD tumbles to fresh session lows
FXStreet (Mumbai) - AUD/NZD extended losses in the European session, as both the Antipodeans plummeted against the US dollar. However, the losses in the Aussie were greater than that in the Kiwi.
Breaks below 1.0700
Currently, the AUD/NZD pair traded at 1.0701 levels, down -0.73% on the day, having previously posted intraday low at 1.0697. The cross in AUD/NZD fell further after the Aussie tumbled to fresh five and a half year lows on the country’s bearish import prices report coupled with falling commodity prices. The Kiwi pared its previous gains and declined as traders continued to digest RBNZ’s less hawkish policy stance.
NZD/USD trades lower by -0.48% at 0.7281, while the Aussie trades at fresh multi-year lows of 0.7793, down -1.18% on the day, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0797 levels, above which gains could be extended to 1.0815 levels. On the flip side, support is seen at 1.0690 levels, from here it to below 1.0653 levels.
Breaks below 1.0700
Currently, the AUD/NZD pair traded at 1.0701 levels, down -0.73% on the day, having previously posted intraday low at 1.0697. The cross in AUD/NZD fell further after the Aussie tumbled to fresh five and a half year lows on the country’s bearish import prices report coupled with falling commodity prices. The Kiwi pared its previous gains and declined as traders continued to digest RBNZ’s less hawkish policy stance.
NZD/USD trades lower by -0.48% at 0.7281, while the Aussie trades at fresh multi-year lows of 0.7793, down -1.18% on the day, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0797 levels, above which gains could be extended to 1.0815 levels. On the flip side, support is seen at 1.0690 levels, from here it to below 1.0653 levels.