7 Apr 2015
AUD/NZD touches 1.02 on RBA’s status-quo
FXStreet (Mumbai) - The Australian dollar hammered its Oz counterpart in the late-Asian session, driving AUD/NZD near 1.02 handle, as the Aussie rallied to fresh weekly highs after RBA lefts its monetary policy unchanged.
AUD/NZD spikes from 1.0087
Currently, the AUD/NZD cross trades higher at fresh two-day highs at 1.02, up 1.34% on the day, moving farther away from parity. AUD/NZD witnessed a sharp rebound largely on the back of RBA unexpectedly leaving the cash rate steady at 2.25%. However, the Central bank paved the way for future policy easing as the economy continues to suffer from post mining-boom blues.
On the other hand, the NZ dollar recovered previous losses and stands flat mainly on the upsurge seen in the Aussie. Meanwhile, in absence of major NZ data release in the week ahead, traders will focus on US economic releases viz. FOMC minutes for further momentum on the cross.
AUD/NZD Levels to consider
To the upside, the next resistance is located at 1.0229 levels and above which it could extend gains to 1.0270 levels. To the downside immediate support might be located at 1.0100 levels below that at 1.0067 levels.
AUD/NZD spikes from 1.0087
Currently, the AUD/NZD cross trades higher at fresh two-day highs at 1.02, up 1.34% on the day, moving farther away from parity. AUD/NZD witnessed a sharp rebound largely on the back of RBA unexpectedly leaving the cash rate steady at 2.25%. However, the Central bank paved the way for future policy easing as the economy continues to suffer from post mining-boom blues.
On the other hand, the NZ dollar recovered previous losses and stands flat mainly on the upsurge seen in the Aussie. Meanwhile, in absence of major NZ data release in the week ahead, traders will focus on US economic releases viz. FOMC minutes for further momentum on the cross.
AUD/NZD Levels to consider
To the upside, the next resistance is located at 1.0229 levels and above which it could extend gains to 1.0270 levels. To the downside immediate support might be located at 1.0100 levels below that at 1.0067 levels.