Australian, NZ Dollars Recover Against Majors

The Australian and New Zealand dollars recovered from their early lows against the other major counterparts in early European trading on Tuesday.

The aussie recovered to 0.6800 against the greenback and 73.92 against the yen, from its early 4-day lows of 0.6785 and 73.59, respectively.

Against the euro and the loonie, the aussie bounced off to 1.6274 and 0.8985, off its early near a 4-week low of 1.6307 and near a 3-week low of 0.8967, respectively.

The kiwi recovered to 1.7295 against the euro, 0.6398 against the greenback and 69.52 against the yen, from its early 6-day low of 1.7348, 4-day lows of 0.6382 and 69.24, respectively.

The kiwi rose back to 1.0626 against the aussie, from an early low of 1.0645. This may be compared to a 4-day high of 1.0621 hit at 7:45 pm ET.

The next possible resistance for the aussie is seen around 0.71 against the greenback, 76.5 against the yen, 1.60 against the euro and 0.945 against the loonie.

For the kiwi, the key resistance levels are seen around 0.66 against the greenback, 71.5 against the yen, 1.70 against the euro and 1.05 against the aussie.