- Aussie is being offered in response to NAB’s decision to hike home loan rates.
- Mortgage rate hikes by major lenders could force the RBA to cut rates this year.
The National Australia Bank’s (NAB) decision to hike lending rates hasn’t gone down well with the AUD traders.
The Australian lender will lift rates by 12 to 16 basis points from Jan. 31.
Investors likely believe that mortgage rate hikes by major lenders could only accentuate the housing market slowdown and force the Reserve Bank of Australia (RBA) to cut interest rates later this year.
That is evident from AUD’s negative reaction to NAB news. The AUD/JPY pair ran into offers bear 78.40 and hit a session low of 78.06 soon before press time. Notably, the pair has erased gains seen following the release of an upbeat Aussie jobs data earlier today.
AUD/JPY Technical Levels
AUD/JPY
Overview:
Today Last Price: 78.12
Today Daily change: -0.18 pips
Today Daily change %: -0.23%
Today Daily Open: 78.3
Trends:
Daily SMA20: 77.72
Daily SMA50: 79.91
Daily SMA100: 80.32
Daily SMA200: 81.26
Levels:
Previous Daily High: 78.42
Previous Daily Low: 77.83
Previous Weekly High: 79.11
Previous Weekly Low: 77.56
Previous Monthly High: 84.05
Previous Monthly Low: 77.15
Daily Fibonacci 38.2%: 78.19
Daily Fibonacci 61.8%: 78.06
Daily Pivot Point S1: 77.95
Daily Pivot Point S2: 77.59
Daily Pivot Point S3: 77.36
Daily Pivot Point R1: 78.54
Daily Pivot Point R2: 78.77
Daily Pivot Point R3: 79.13
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