29 Jan 2014
AUD/NZD jumps after RBNZ
FXstreet.com (Córdoba) - The AUD/NZD soared following the decision of the Reserve Bank of New Zealand to hold rates at 2.5%. Price rose from 1.0567 to 1.0670 in minutes, reaching the highest price in a week. Afterward pulled back but holds above 1.0630.
The central bank said that there is a need to return to more-normal levels in the interest rate. Despite the RBNZ expectations the Kiwi fell across the board.
AUD/NZD levels to watch
Recent rally was capped by 1.0670 (January 22, 23 highs), that level is the first resistance to consider in the coming hours if the AUD/NZD continues with momentum. Above immediate resistance lies at 1.0705 (January 20 high) and 1.0735.
To the downside, support levels could be located at 1.0600 and below at 1.0560 (January 29 lows).
The central bank said that there is a need to return to more-normal levels in the interest rate. Despite the RBNZ expectations the Kiwi fell across the board.
AUD/NZD levels to watch
Recent rally was capped by 1.0670 (January 22, 23 highs), that level is the first resistance to consider in the coming hours if the AUD/NZD continues with momentum. Above immediate resistance lies at 1.0705 (January 20 high) and 1.0735.
To the downside, support levels could be located at 1.0600 and below at 1.0560 (January 29 lows).