SYDNEY: The Australian and New Zealand dollars were trying to regain some composure on Wednesday after a bout of global risk aversion boosted their U.S. counterpart, while betting firmed on an RBNZ rate hike next month.
The Aussie was nursing a grudge at $0.7391, after falling 0.7% overnight and away from the recent two-month peak of $0.7477. Immediate support lies at $0.7380 and $0.7350, with a major bulwark around $0.7290. The kiwi was back at $0.7099 having lost 0.5% overnight following repeated failures to clear $0.7170 resistance. It has support at $0.7087 and $0.7050.