4 Feb 2014
AUD/NZD holds above 1.0800, waiting for the RBA
FXStreet (Córdoba) - The AUD/NZD finished Monday practically flat, hovering around 1.0820 awaiting RBA decision. After falling during yesterday’s Asian session, the pair turned to the upside and climbed to 1.0875 on American hours, reaching the strongest level since January 3. In the last hours of Monday pulled back, but managed to hold above 1.0800.
Early in Asia, ahead of the monetary policy statement, the AUD/NZD is turning to the upside, trading at 1.0830, 0.07% up for the day, as the NZD/USD hits fresh daily lows.
AUD/NZD holds upside momentum
The short-term continues to point to the upside, suggesting that further gains could be possible as the AUD/NZD holds trading in a corrective mode. On a wider view, the long-term trend is still bearish.
Despite momentum, movements for the coming hours are likely to be decided by the effects of the RBA’s decision. Analysts expect the central bank to keep rates unchanged, but the tone of the statement could have large impact on the AUD.
Early in Asia, ahead of the monetary policy statement, the AUD/NZD is turning to the upside, trading at 1.0830, 0.07% up for the day, as the NZD/USD hits fresh daily lows.
AUD/NZD holds upside momentum
The short-term continues to point to the upside, suggesting that further gains could be possible as the AUD/NZD holds trading in a corrective mode. On a wider view, the long-term trend is still bearish.
Despite momentum, movements for the coming hours are likely to be decided by the effects of the RBA’s decision. Analysts expect the central bank to keep rates unchanged, but the tone of the statement could have large impact on the AUD.