For those who may have missed the news earlier, the RBNZ left interest rates unchanged at 2.5% and their language suggested that there will be no imminent rate rises like in Australia. The RBNZ would dearly love to have the AUD/NZD rate up above 1.30 and the present interest rate situation in both countries won’t hurt.
AUD/NZD jumped from 1.2320 to 1.2420 immediately after the announcement and is holding on to those gains. There’s not much in the way of technical resistance until 1.2650.
