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Australia, NZ dollars pause after sharp rally, eyes on RBA

Australia, NZ dollars pause after sharp rally, eyes on RBA

The Australian dollar was taking a breather on Monday after last week’s steep climb, as risk sentiment improved globally and markets braced for a possible hike in interest rates at home. The Aussie was flat at $0.6512 AUD=D3, having surged 2.8% last week in its best weekly performance so far this year. Resistance now lies just above $0.6520 with the next major bull target at the 200-day moving average of $0.6619. The kiwi dollar likewise held at $0.5986 NZD=D3, after spiking 3.3% last week to shatter resistance around $0.5939. It faces resistance at its October top of $0.6056. Both currencies had rallied after a …

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