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24 Feb 2015
AUD/NZD hovers near highs on NZD weakness
FXStreet (Mumbai) - AUD/NZD held gains and hovered near highs in the European session, largely on the back of Kiwi weakness, dragged down falling inflation expectations revealed in the RBNZ survey.
AUD/NZD holds above 1.0400 levels
Currently, the AUD/NZD cross trades higher by 0.42% at 1.0413 levels, with a day’s high of 1.0426 and day’s lows posted at 1.0356. The cross in AUD/NZD edged higher, mainly driven by losses in the New Zealand dollar after RBNZ’s low inflation expectations increased bets likely rate cut by the NZ Central bank this year, dragging the Kiwi. However, the downslide in Aussie on declining commodity prices capped the gains in the cross.
At the moment, AUD/USD trades -0.62% lower at 0.7754 levels, while NZD/USD trades -1.04% at 0.7446 levels.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0431 levels, above which gains could be extended to 1.0445 levels. On the flip side, support is seen at 1.0347 levels, from here it to below 1.0300 levels.
AUD/NZD holds above 1.0400 levels
Currently, the AUD/NZD cross trades higher by 0.42% at 1.0413 levels, with a day’s high of 1.0426 and day’s lows posted at 1.0356. The cross in AUD/NZD edged higher, mainly driven by losses in the New Zealand dollar after RBNZ’s low inflation expectations increased bets likely rate cut by the NZ Central bank this year, dragging the Kiwi. However, the downslide in Aussie on declining commodity prices capped the gains in the cross.
At the moment, AUD/USD trades -0.62% lower at 0.7754 levels, while NZD/USD trades -1.04% at 0.7446 levels.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0431 levels, above which gains could be extended to 1.0445 levels. On the flip side, support is seen at 1.0347 levels, from here it to below 1.0300 levels.