The Australian dollar hovered near record highs on the euro on Wednesday and held comfortably above one US dollar as surging commodity prices gave it, and its New Zealand neighbour, a lift. All of which kept the Aussie dollar well supported at $1.0102, giving it a gain for the year of 14 percent. It touched a seven-week high of $1.0153 on Tuesday, having closed before Christmas on $1.0053.
Support is seen at $1.0040 and $0.9987, with resistance at the 28-year high of $1.0182 set in November. The local dollar also hit a record peak on the euro around A$1.2959, for a rise of no less than 23 percent this year, while the single currency slid to a six-month trough on the Kiwi.
The New Zealand dollar was firm at $0.7580, having pushed to a three-week high of $0.7609 overnight, with a dip on profit-taking attracting fund buyers. The kiwi ranged between $0.7540 and $0.7600 in holiday-thinned trading. Support was put around $0.7490 and $0.7455 the daily low of December 27, with resistance at $0.7585 and $0.7640. It also managed to recoup a little ground on the Australian dollar at NZ$1.3305 after sliding to a 10-year low last week.