31 Jan 2014
AUD/NZD extends rally and rises above 1.0700
FXstreet.com (Córdoba) - The AUD/NZD rose constantly during Thursday and peaked at 1.0793, reaching the highest price in two weeks and extended the recovery from 1.0490; recently pulled back following trade data from New Zealand.
AUD/NZD continues to recover
The Aussie was among the strongest currencies on Thursday while the Kiwi fell across the board, pushing the AUD/NZD sharply to the upside. The rally started 24 hours ago, following RBNZ statement when the pair was trading at 1.0560. During the Asian session regain 1.0650 and on European hours soared breaking above 1.0700.
Finally found resistance below 1.0800 and finished Thursday with a gain of more than 150 pips, posting the fifth consecutive daily gain.
Retreated after NZ data
Trade data from New Zealand showed an increase above expectations of exports and imports during December. The AUD/NZD retreated after the new data and fell to 1.0750, area that stands 200 pips above the price it opened the current week.
AUD/NZD continues to recover
The Aussie was among the strongest currencies on Thursday while the Kiwi fell across the board, pushing the AUD/NZD sharply to the upside. The rally started 24 hours ago, following RBNZ statement when the pair was trading at 1.0560. During the Asian session regain 1.0650 and on European hours soared breaking above 1.0700.
Finally found resistance below 1.0800 and finished Thursday with a gain of more than 150 pips, posting the fifth consecutive daily gain.
Retreated after NZ data
Trade data from New Zealand showed an increase above expectations of exports and imports during December. The AUD/NZD retreated after the new data and fell to 1.0750, area that stands 200 pips above the price it opened the current week.