AUD/NZD reversed previous losses and traded almost flat as both the Antipodeans gains against the US dollar as markets contemplate more easing from China's central bank after the recent weak Chinese data.
Supported on China easing hopes
Currently, the AUD/NZD pair trades steady at 1.0533 levels, retreating from previously posted day’s high at 1.0542 levels. The cross in AUD/NZD trimmed earlier gains and trades flat largely on the added gains in the Kiwi as the New Zealand dollar emerged as a better bid against the Aussie.
NZD/USD trades higher by 0.24% at 0.7427, while the Aussie trades up by 0.26% at 0.7821, as of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0551 (50-DMA) levels, above which gains could be extended to 1.0598. On the flip side, support is seen at 1.0497 levels, from here it to below 1.0467 levels.
Supported on China easing hopes
Currently, the AUD/NZD pair trades steady at 1.0533 levels, retreating from previously posted day’s high at 1.0542 levels. The cross in AUD/NZD trimmed earlier gains and trades flat largely on the added gains in the Kiwi as the New Zealand dollar emerged as a better bid against the Aussie.
NZD/USD trades higher by 0.24% at 0.7427, while the Aussie trades up by 0.26% at 0.7821, as of writing.
AUD/NZD Technical Levels
The pair has an immediate resistance at 1.0551 (50-DMA) levels, above which gains could be extended to 1.0598. On the flip side, support is seen at 1.0497 levels, from here it to below 1.0467 levels.
