25 Apr 2014
AUD/NZD rises back above 1.0800
FXStreet (Córdoba) - The AUD/NZD managed to erased losses and finished on Thursday around 1.0810. The recovery found resistance at 1.0830 and pulled back, but it was able to hold above 1.0800.
On Wednesday, inflation data from Australia pushed the AUD/NZD sharply to the downside, and fell from 1.0875 to 1.0775 and on Thursday, after the RBNZ rose rates to 3%, the Aussie took another hit and tumbled to 1.0760, the lowest price since April 10. But afterwards, particularly on European hours recovered ground as the Kiwi plummeted across the board.
Despite rising on Thursday the AUD/NZD is still trading 70 pips below the price it had at the beginning of the week, after being rejected once again from the 1.0900 area, that has been capping the price since last December.
On Wednesday, inflation data from Australia pushed the AUD/NZD sharply to the downside, and fell from 1.0875 to 1.0775 and on Thursday, after the RBNZ rose rates to 3%, the Aussie took another hit and tumbled to 1.0760, the lowest price since April 10. But afterwards, particularly on European hours recovered ground as the Kiwi plummeted across the board.
Despite rising on Thursday the AUD/NZD is still trading 70 pips below the price it had at the beginning of the week, after being rejected once again from the 1.0900 area, that has been capping the price since last December.