21 Mar 2014
AUD/NZD tests 1.0600
FXStreet (Córdoba) - The AUD/NZD rose moderately on Thursday, rebounding from 1.0540 and finished hovering below 1.0600. In the first hours of the Asian session the pair remains steady, within a small range with support at 1.0580 and resistance at 1.0600. The pair is about to close the week with a moderate gain.
Since last Wednesday the pair has been moving sideways, but still faces bearish pressure on a wider view. Price continues near multi-year lows, unable to make a recovery beyond 1.0900 and currently above 1.0600.
The rise in interest rates in New Zealand added downside pressure to the AUD/NZD that was partially offset by economic data from Australia and by the latest RBA statement, signaling no rate cut in the horizon.
Since last Wednesday the pair has been moving sideways, but still faces bearish pressure on a wider view. Price continues near multi-year lows, unable to make a recovery beyond 1.0900 and currently above 1.0600.
The rise in interest rates in New Zealand added downside pressure to the AUD/NZD that was partially offset by economic data from Australia and by the latest RBA statement, signaling no rate cut in the horizon.