AUD NZD steadier ahead of the RBA
9/6/2016 10:07:19 AM
The cross in the AUD/NZD expand its recovery mode into a 3rd day today, and hits fresh 6 day highs just ahead of the RBA policy decision. The AUD/NZD pair now gatherings 0.52% to fresh 6 day highs of 1.0433, look at a test of 20-DMA placed at 1.0450. The AUD/NZD cross increases higher this session, mostly determined by strong gains in the AUD/USD pair, which outweighs the positive tone seen behind the Kiwi. Furthermore, the AUD/USD pair rallied in answer to upbeat Australian economic releases, while expectations that the RBA may keep the policy stable today, more added to the upside in the major. To the upside, the next persistence is placed at 1.0450 and above which it could expand gains to at 1.0475.To the downside immediate support might be placed 1.0400below that at 1.0385.
Fundamental Analysis by