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2 Dec 2014
AUD/NZD re-takes 1.08 handle
FXStreet (Mumbai) - The Aussie rose against the Kiwi today after the Reserve Bank of Australia (RBA) left interest rates unchanged and reiterated that interest rates would stay at record lows for a considerable period of time.
The AUD/NZD pair traded 0.17% higher at 1.0816 at the time of writing. The pair hit a low of 1.0772 levels before rising above the 1.08 levels. Moreover, the pair has declined since last week as the markets priced-in the RBA’s decision to hold interest rates at record lows. The Aussie also gained as building approvals rose 11.4% in October, exceeding expectations for an increase of 5.2%. Other data showed Australia’s current account deficit narrowed to AUD 12.5 billion in the third quarter.
AUD/NZD Technical Levels
The pair has an immediate resistance located at 1.0837 (5-DMA), above which gains could be extended to 1.0848. Meanwhile, support is seen at 1.08 and 1.0772 levels.
The AUD/NZD pair traded 0.17% higher at 1.0816 at the time of writing. The pair hit a low of 1.0772 levels before rising above the 1.08 levels. Moreover, the pair has declined since last week as the markets priced-in the RBA’s decision to hold interest rates at record lows. The Aussie also gained as building approvals rose 11.4% in October, exceeding expectations for an increase of 5.2%. Other data showed Australia’s current account deficit narrowed to AUD 12.5 billion in the third quarter.
AUD/NZD Technical Levels
The pair has an immediate resistance located at 1.0837 (5-DMA), above which gains could be extended to 1.0848. Meanwhile, support is seen at 1.08 and 1.0772 levels.