AUD/NZD post highest close since 2013

FXStreet (Córdoba) – Weak data from New Zealand pushed AUD/NZD further to the upside. Price jumped above 1.1300 and peaked at 1.1390, hitting the strongest level since November 2013.

The aussie is about to post the highest close in year after rising almost 200 pips on Tuesday. During June it rose more than 600 pips on the back of a rate cut by the Reserve Bank of New Zealand and expectations of another cut.

The kiwi ended the second quarter sharply lower in the market, and was, among majors the worst performer.

AUD/NZD levels to watch

The pair holds a bullish tone despite overbought technical reading. The break of the 1.1300 area opened the doors for further gains. From current levels support could be located at 1.1300, 1.1235 and 1.1160.

Weak data from New Zealand pushed AUD/NZD further to the upside. Price jumped above 1.1300 and peaked at 1.1390, hitting the strongest level since November 2013.


(Market News Provided by FXstreet)