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8 May 2013
Forex: AUD/NZD trading sharply higher after RBNZ comments
The AUD/NZD is trading sharply higher during Asia, up 100 pips at 1.2134. In what started as a quiet session quickly turned into a very active night after comments from RBNZ Governor Wheeler hit tape a bit earlier.
According to analysts at FXStreet.com, “RBNZ's Governor Wheeler said the central bank has been selling the Kiwi, which remains near mulit-year highs vs the US Dollar. Wheeler also said the RBNZ is capable of further intervention, which is designed to take top off the currency.”
Initial resistance now sits at 1.2160 (previous support, now resistance on daily chart), followed by 1.2210 (previous support, now resistance on weekly chart). First support sits at 1.2120, followed by 1.2087 (the 9 dma).
According to analysts at FXStreet.com, “RBNZ's Governor Wheeler said the central bank has been selling the Kiwi, which remains near mulit-year highs vs the US Dollar. Wheeler also said the RBNZ is capable of further intervention, which is designed to take top off the currency.”
Initial resistance now sits at 1.2160 (previous support, now resistance on daily chart), followed by 1.2210 (previous support, now resistance on weekly chart). First support sits at 1.2120, followed by 1.2087 (the 9 dma).