17 Feb 2015
AUD/NZD: Bid on neutral RBA minutes
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0373 with a high of 1.0385 and a low of 1.0325.
AUD/NZD faced the RBA's minutes moments earlier while the market responded erratically, the overall consensus has seen the Aussie firmer as a result of there not being mention of further rate cuts coming any time soon.
The cross had been pressured lower overnight but managed a drift back to the upside in a 40 pip advance from 1.0330's less one other bout of supply in the late afternoon of the US timezone, but that move was very short lived.
So we are back on the bid creating new highs since European trading. Next up is the NZ risk of dairy prices in London tomorrow, and of late these have been making a come back and supporting the Kiwi. There after, the next main risk event will come in the form of the FOMC minutes mid week. Technically, the cross remains in a broad based bearish trend. A break higher here would alleviate the pressures on the short term but 1.06 contains the trend ahead of 1.08 to mark a correction.
AUD/NZD faced the RBA's minutes moments earlier while the market responded erratically, the overall consensus has seen the Aussie firmer as a result of there not being mention of further rate cuts coming any time soon.
The cross had been pressured lower overnight but managed a drift back to the upside in a 40 pip advance from 1.0330's less one other bout of supply in the late afternoon of the US timezone, but that move was very short lived.
So we are back on the bid creating new highs since European trading. Next up is the NZ risk of dairy prices in London tomorrow, and of late these have been making a come back and supporting the Kiwi. There after, the next main risk event will come in the form of the FOMC minutes mid week. Technically, the cross remains in a broad based bearish trend. A break higher here would alleviate the pressures on the short term but 1.06 contains the trend ahead of 1.08 to mark a correction.