AUD/NZD extended gains for the third straight session as the Aussie outperformed its Oz counterpart ahead of Reserve Bank of Australia’s official cash rate announcement due tomorrow.
Currently, the AUD/NZD pair trades at fresh session highs at 1.073- levels, recording a 0.32% gain on the day. The cross in AUD/NZD edged higher on expectations that RBA will not slash rate at its meeting tomorrow. Moreover, markets expect that the central bank may also alter their easing bias to more of a neutral stance which has fuelled the rally in the Aussie. On the other hand, the Kiwi trades slightly underpinned ahead of significant data releases from New Zealand later in the week.
NZD/USD trades higher by 0.17% at 0.7267, while the Aussie trades up by 0.44% at 0.7800 levels, as of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0752 levels, above which gains could be extended to 1.0769. On the flip side, support is seen at 1.0683 levels, from here it to below 1.0653 levels.
Currently, the AUD/NZD pair trades at fresh session highs at 1.073- levels, recording a 0.32% gain on the day. The cross in AUD/NZD edged higher on expectations that RBA will not slash rate at its meeting tomorrow. Moreover, markets expect that the central bank may also alter their easing bias to more of a neutral stance which has fuelled the rally in the Aussie. On the other hand, the Kiwi trades slightly underpinned ahead of significant data releases from New Zealand later in the week.
NZD/USD trades higher by 0.17% at 0.7267, while the Aussie trades up by 0.44% at 0.7800 levels, as of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0752 levels, above which gains could be extended to 1.0769. On the flip side, support is seen at 1.0683 levels, from here it to below 1.0653 levels.
