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AUD/USD and NZD/USD Higher after Risk Events

For the first time since 2010, the Reserve Bank of New Zealand announced a rate hike. The RBNZ raised the OCR from 2.50% to 2.75% as many expected.

The NZD/USD has been consolidating this week ahead of the event risk and rallied sharply after the announcement. The 1H chart shows the Kiwi bounce from the 200-hour SMA above the consolidation. 


(NZD/USD 1H Chart)

Meanwhile Australia's employment change for February came in at 47.3K, much higher than forecast the forecast of 15.3K, and the previous 18.0K, which was revised upwards from the -3.7K, originally released.

NZD/USD has a stronger bull run coming into today's session, while the AUD/USD has been bearish to neutral.