- The Reserve Bank of New Zealand decision triggers the kiwi to slide.
- AUD / NZD climbs to the highest since November and consolidates the gains.
AUD / NZD has surged following the RBNZ meeting breaking 1.0690 / 1.0700 resistance and peaked at 1.0760 European time. Then he made a small correction, keeping most of his gains, suggesting that the upside momentum remains strong.
The Aussie is about to post the highest daily close since November, above the April intraday high, leaving the door open for further gains. The next target is 1.0800 and above it emerges the 1.0840 area of significant resistance.
Immediate support amounts to 1.0720 followed by 1.0690. The upside bias will continue while it is above 1.0610 / 20, a horizontal support band and also where the 20-day moving average is located.