AUD/NZD Price Drops Below Key Moving Average After RBNZ Announcement

Wednesday, 10 July 2024, 13:22
The recent dovish stance of the RBNZ has triggered a downward trend for the AUD/NZD pair, leading to a significant break below the crucial 200-day moving average. This move culminated in the pair hitting an intraday low of 1.0731 on 7 June, indicating increased selling pressure on the Kiwi.

Recent Development:

The RBNZ's unexpected dovish shift has impacted the AUD/NZD pair, causing it to breach the 200-day moving average.

Price Movement:

  • The pair trended lower post RBNZ announcement
  • An intraday low of 1.0731 was reached on 7 June

This signifies a bearish sentiment towards the Kiwi, mirroring concerns in the market.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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