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10 Dec 2014
AUD/NZD hits 4-month low ahead of RBNZ
FXStreet (Córdoba) - AUD/NZD dropped to 1.0751 during the American session reaching the lowest level since July 16, slightly below the previous lows.
The pair is consolidating below 1.0770 ahead of the decision of the Reserve Bank of New Zealand at 20:00 GMT. No change in rates is expected and traders attention will probably lie over the statement and the press conference. The event is likely to affect the kiwi.
A hawkish statement could push AUD/NZD below 1.0750, to fresh lows and toward 1.0700; while hawkish words could give support to the pair to stay within the current trading range between 1.0750 and 1.0870.
The pair is consolidating below 1.0770 ahead of the decision of the Reserve Bank of New Zealand at 20:00 GMT. No change in rates is expected and traders attention will probably lie over the statement and the press conference. The event is likely to affect the kiwi.
A hawkish statement could push AUD/NZD below 1.0750, to fresh lows and toward 1.0700; while hawkish words could give support to the pair to stay within the current trading range between 1.0750 and 1.0870.