By ForexMansion.com

 

The New Zealand dollar continues to strengthen against the Australian dollar after the decline shown by AUD against the USD and other major currencies, as the pair confirmed its breaching to the consolidation area that has limited the pair’s movements over the past three weeks.

The RBA decision to set the interest rates at 4.75% beside the first trade deficit in almost a year recorded by the Australian economy in February has significantly helped to reduce the demand on the Australian currency.

On the other hand, the NZD witnessed stability in movements against the USD due to the absence of vital New Zealand economical data this week, which shift the focus to the Australian currency.

On Wednesday, Australia will release the home loans reading for the month of February at 00:30, which hardly could affect the movements of the pair.

Originally posted here

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