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18 May 2015
AUD/NZD: Technically bullish in rising channel
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0780 with a high of 1.0803 and a low of 1.0763.
AUD/NZD remains below the psychological 0.80 handle with RBA's Lowe offering a dovish rhetoric when speaking earlier and explaining that that bank is still open to further rate cuts if necessary.
The kiwi is making hard work of things of late and was the only major currency that the greenback was dominating last week despite US calendar disappointments. The RBNZ were been jawboning the currency lower while switching to a dovish tone and markets are starting to price in an interest rate cut expectation for as soon as next month. Technically, 1.0720 comes as support with EMA 200 at 1.0694 there after but the cross comes with a bullish bias targeting 1.0930 and mid November lows.
AUD/NZD remains below the psychological 0.80 handle with RBA's Lowe offering a dovish rhetoric when speaking earlier and explaining that that bank is still open to further rate cuts if necessary.
The kiwi is making hard work of things of late and was the only major currency that the greenback was dominating last week despite US calendar disappointments. The RBNZ were been jawboning the currency lower while switching to a dovish tone and markets are starting to price in an interest rate cut expectation for as soon as next month. Technically, 1.0720 comes as support with EMA 200 at 1.0694 there after but the cross comes with a bullish bias targeting 1.0930 and mid November lows.