FXStreet (Guatemala) – AUD/NZD is currently trading at 1.1187 with a high of 1.1213 and a low of 1.1068.
AUD/NZD has rallied on full steam with the release of NZ’s GDP data. New Zealand Gross Domestic Product (QoQ) came way below forecasts (0.6%) in 1Q: Actual (0.2%) while New Zealand Gross Domestic Product (YoY) came in at 2.6%, below expectations (3%) in 1Q.
AUD/NZD has gone from a steady drifting ascending channel on this week’s business in to the 1.11 handle, post the rally on the back of last week’s surprise RBNZ rate cut, in to a determined run from the bulls up to challenge 1.1200 territory. Technically, the cross remains highly bullish and within the April 2015 commencing and steep trend eyeing 31st Oct monthly stick’s highs at 1.1284.
(Market News Provided by FXstreet)