Back
26 Jan 2015
AUD/NZD back above 1.0600
FXStreet (Mumbai) - The Australian dollar erased previous losses and traded flat versus the Oz counterpart in the mid-European session, as both the commodity currencies rebounded from their lows versus the US dollar.
Currently, the AUD/NZD pair traded unchanged at 1.0615 levels, having posted intraday high at 1.0643 and day’s low at 1.0591 levels. The cross in AUD/NZD edged lower previously as falling oil and copper prices failed to lend support to the Aussie, while traders continued to speculate on increased bets of a possible rate cut by RBA. However, the US bulls took a breather against most of its peers which had a positive impact on the cross.
Meanwhile, the NZD/USD trades higher at 0.7463 levels, up 0.20% on the day. While AUD/USD trades at 0.7925 levels, up 0.15%, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0736 levels. On the flip side, support is seen at 1.0600 levels, from here it to below 1.0528 levels.
Currently, the AUD/NZD pair traded unchanged at 1.0615 levels, having posted intraday high at 1.0643 and day’s low at 1.0591 levels. The cross in AUD/NZD edged lower previously as falling oil and copper prices failed to lend support to the Aussie, while traders continued to speculate on increased bets of a possible rate cut by RBA. However, the US bulls took a breather against most of its peers which had a positive impact on the cross.
Meanwhile, the NZD/USD trades higher at 0.7463 levels, up 0.20% on the day. While AUD/USD trades at 0.7925 levels, up 0.15%, at time of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0700 levels, above which gains could be extended to 1.0736 levels. On the flip side, support is seen at 1.0600 levels, from here it to below 1.0528 levels.