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14 May 2015
AUD/NZD: Kiwi takes flight and anchors the cross
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.0773 with a high of 1.0843 and a low of 1.0725.
AUD/NZD has dropped back further on the release of the NZ data. There was some early activity in the Kiwi ahead of the data but the rally extended when the business climate showed it remains in good health while retails sales came in strong and beat expectations.
Both the Aussie and Kiwi have had better times of late vs the greenback, with commodity prices making a recovery as well as Q1 and Q2 outlook for the the US's own recovery that has been and continues to look less appealing to the hawks who had been previously sighting an interest rate hike as soon as June.
Domestically, neither New Zealand or Australia are hardly candidates for a hike either at this juncture and the RBNZ has just recently offered a more dovish tone for the year than when they had previously entered 2015 while Australia has left the door wide open for a rate cut at their next meeting. Technically for the cross, the support here is at the 200 EMA on the 30 min sticks ahead of 1.0680 and 1.0609 SMA 200 on the hourly sticks that is guarding 1.0500.
AUD/NZD has dropped back further on the release of the NZ data. There was some early activity in the Kiwi ahead of the data but the rally extended when the business climate showed it remains in good health while retails sales came in strong and beat expectations.
Both the Aussie and Kiwi have had better times of late vs the greenback, with commodity prices making a recovery as well as Q1 and Q2 outlook for the the US's own recovery that has been and continues to look less appealing to the hawks who had been previously sighting an interest rate hike as soon as June.
Domestically, neither New Zealand or Australia are hardly candidates for a hike either at this juncture and the RBNZ has just recently offered a more dovish tone for the year than when they had previously entered 2015 while Australia has left the door wide open for a rate cut at their next meeting. Technically for the cross, the support here is at the 200 EMA on the 30 min sticks ahead of 1.0680 and 1.0609 SMA 200 on the hourly sticks that is guarding 1.0500.