Aussie slips, New Zealand dollar outperforms

The Australian dollar gave ground on Tuesday after the country's central bank saw no urgent reason to raise interest rates and ratings agency Fitch unsettled markets by saying a Greek debt rollover would be the same as default. But gains in Asian equities and some commodity prices helped both the Aussie and kiwi dollars bounce off lows. The Aussie last traded at $1.0572, having earlier fallen as low as $1.0532.
Support in the $1.0450/50 region remains intact, while resistance is seen starting from $1.0649, the 55-day moving average. The New Zealand dollar edged up 0.05 percent on the day to $0.8105, climbing off a session low of $0.8085 as it benefited from cross selling against the Aussie. The Aussie eased to around NZ$1.3030, from $1.3080. Many analysts see a real risk of a hike in August should inflation data out in late July show price pressures are growing.
The Aussie, and risk sentiment in general, were also hit by comments from Fitch that it would regard a Greek debt exchange or voluntary rollover as a default. The euro dipped quarter of a cent on the first Fitch announcement only to bounce back to $1.4340 on the second. It last stood at $1.4350.