AUD/NZD plummets to 1.1470/80

FXstreet.com (London) - AUD/NZD has dropped like a stone from 1.1540 to almost a full big figure to 1.1470.
RNBZ held rates with an accompany speech. The pair is still within positive territory after this knee-jerk reaction and holding at daily support set in August ranges.

AUD/NZD Levels

AUD/NZD is supported at 1.1400 the figure behind 1.1461 that meets 1.1261 ascending support line. RSI (14) is marking an over sold scenario below 30 at 25.69 while EMA’s on the hourly charts are offering bearish bias.

Sep 12, 2013

RBNZ communicates it wants to hike rates, NZD up another 3 to 5%?

In a very explicit fashion, the Reserve Bank of New Zealand said "rates hikes will be requited in 2014, with the extent and timing of the rise in policy rates will depend largely on the degree to which the momentum in the housing market and construction sector spills over into broader demand and inflation pressures raise interest rates."

EUR/NZD breaks to fresh 3-week lows on RBNZ

The EUR/NZD foreign exchange cross rate is last trading at 1.6383 off recent session and fresh 3-week lows at 1.6355 following RBNZ leaving rates unchanged but stating "OCR increases will likely be required next year," which has led to a spike in NZD/USD.