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24 Feb 2015
AUD/NZD rises on NZ inflation data
FXStreet (Mumbai) - The AUD/NZD pair rose to trade above 1.04 on a disappointing inflation expectations report in the New Zealand. The pair had hit a record low of 1.0298 on Feb. 19th.
Kiwi sinks as inflation expectations fall
The New Zealand dollar fell after the Reserve Bank of New Zealand (RBNZ) said its inflation expectation two-years ahead dropped to 1.8% in the first quarter, down from 2.06% in the fourth quarter. The weak data pushed the NZD/USD pair to 0.7459 levels; down 0.84%. Meanwhile, the contagion from the sharp fall in the NZD also weakened the AUD/USD pair to 0.7772; down 0.41%. Consequently, the AUD/NZD cross gained 0.435 to trade at 1.0413.
AUD/NZD Technical Levels
The immediate resistance is seen at 1.0427, above which gains could be extended to 1.0464 (hourly 100-MA). On the flip side, support is seen at 1.0380 (hourly 50-MA) and 1.0352 levels.
Kiwi sinks as inflation expectations fall
The New Zealand dollar fell after the Reserve Bank of New Zealand (RBNZ) said its inflation expectation two-years ahead dropped to 1.8% in the first quarter, down from 2.06% in the fourth quarter. The weak data pushed the NZD/USD pair to 0.7459 levels; down 0.84%. Meanwhile, the contagion from the sharp fall in the NZD also weakened the AUD/USD pair to 0.7772; down 0.41%. Consequently, the AUD/NZD cross gained 0.435 to trade at 1.0413.
AUD/NZD Technical Levels
The immediate resistance is seen at 1.0427, above which gains could be extended to 1.0464 (hourly 100-MA). On the flip side, support is seen at 1.0380 (hourly 50-MA) and 1.0352 levels.