20 Jul 2015
Bears tighten grip on AUD/NZD, drops below 1.12 handle
FXStreet (Mumbai) - The AUD/NZD pair dropped to a session low of 1.1190 after New Zealand PM John Key said the NZD has fallen faster-than-expected.
NZD shines amid broad based USD strength
The New Zealand dollar stands tall amid a bout of USD strength triggered by a sharp drop in Gold in the early Asian session. NZ PM John Key’s indirect hint at Kiwi’s oversold stature helped the NZD/USD tick higher by 0.81% to trade at 0.6574.
Meanwhile, the Aussie has been ditched in line with the weakness seen in the other major currencies. The AUD/USD spot fell 0.225 to trade near 0.7350. Consequently, the AUD/NZD cross fell more than 1% to trade at the moment around 1.1190.
AUD/NZD Technical Levels
The immediate support is seen at 1.1152 (hourly 200-MA), under which the pair could target 1.11 handle. On the other hand, resistance is seen at 1.1235 (hourly 100-MA) and 1.1275.
NZD shines amid broad based USD strength
The New Zealand dollar stands tall amid a bout of USD strength triggered by a sharp drop in Gold in the early Asian session. NZ PM John Key’s indirect hint at Kiwi’s oversold stature helped the NZD/USD tick higher by 0.81% to trade at 0.6574.
Meanwhile, the Aussie has been ditched in line with the weakness seen in the other major currencies. The AUD/USD spot fell 0.225 to trade near 0.7350. Consequently, the AUD/NZD cross fell more than 1% to trade at the moment around 1.1190.
AUD/NZD Technical Levels
The immediate support is seen at 1.1152 (hourly 200-MA), under which the pair could target 1.11 handle. On the other hand, resistance is seen at 1.1235 (hourly 100-MA) and 1.1275.