OctaFX | OctaFX Forex Broker
Open trading account

AUD/NZD: a game of two halves on RBNZ and jobs data

FXStreet (Guatemala) - AUD/NZD has been a game of two halves . First, the RBNZ cut interest rates as expected by 25 bps, but offered a mixed outlook in that they want the bird lower, they are confident they will reach their inflation target, will stay firm on rates, but are ready to cut rates if appropriate.

NZD actually went on the bid, despite the rate cut that was price din at the margin. Then, we had the Aussie fairytale in jobs numbers and the cross rallied, but not as far as the bird did on the rate cut. The 20 SMA on the hourly seems to be menacing for the bulls and the price is stabilizing 10 pips below it.

AUD/NZD levels

Technically, the 20 SMA need to give by the look of things to par back losses on to the 1.09 handle while the 200 SMA on the same time frame is coming in at 1.0943 where the price went bullish from into last week's close. RSI is neutral and we are some way off the pivot still at 1.0880. R! stands at 1.0931 and R2 stands at 1.1001.

AUD/JPY stages solid comeback on stellar Aus jobs

The Australian dollar rallied more than 1 big figure against its Japanese counterpart this session, with AUD/JPY storming through 89 handle, after the Australian jobless rate unexpectedly ticked lower in Nov.
Read more Previous

25 bps adjustment was appropriate - RBNZ

Headlines from the Reserve Bank of New Zealand (RBNZ) are now crossing the wires, with the central bank justifying its latest rate cut decision. Earlier on the day, the RBNZ slashed its official cash rate (OCR) for the fourth time this year, reducing it a quarter percentage point to 2.5%.
Read more Next
Start livechat