AUD/NZD capped at 1.1160; 5-year bottoms

FXstreet.com (Chicago) – AUD/NZD ‘s breakout to 1.1176 resistance was short-lived as the pair wiped out gains and fell back around the 1.1140 zone, where it trades now ahead of the Asian session opening and data releases in both countries.

AUD/NZD Technical Levels

Limits on LVR lending seems to be having an impact on the pair’s performance with a dovish sentiment for the RBNZ’s outlook implying the mandatory decision to maintain lows interest rates to foster credit growth. Offered at 1.1142, the pair oscillates between the supports aligned at 1.1111 (June 1st 2005 highs), 1.1047 (January 10th 2008 lows) ahead of …read more