NZDUSD Off Lows, Falls Against AUD After RBA Decision

NZD is modestly higher in the first part of Tuesday trade, up a modest 0.15% in Asia trading, with some spill over from higher AUD levels post the RBA decision. Technical moves could also be in play as NZDUSD continues to fight to stay above recent lows of 0.6040.

• NZDUSD has been trading in a small range today 0.6050/.06070, after hitting new lows in the US session of 0.6040, a break below here could see the pair test the Nov 22 low at 0.5997.
• AUDNZD has traded higher post RBA rate decision holding rates at 4.35% as expected, the statement noted that further hikes in the rate can't be ruled out, and that the board will do what is necessary to bring inflation back to target. The pair has trader higher to 1.0722 at time of writing, after grinding lower throughout the day and what may be another failed attempt to break the 1.070 level.
• Finally, note the following option expiry for NZD/USD at the NY cut later: $0.6005(N$703mln)