AUD/NZD drops as the Reserve Bank of New Zealand keeps rates unchanged. The central bank leaves the door open for negative rates and foreign QE. AUD/NZD fell from 1.0814 to 1.0750, the lowest level since Aug. 4, after the Reserve Bank of New Zealand kept interest rates and the large scale asset purchase program’s size unchanged as expected. The pair dipped below the 100-day simple moving average (SMA) for the first time since April 9. The SMA is currently located at 1.0767. The policy statement said that the balance of economic risks is skewed to the downside, and progress is being made on additional monetary tools. The central bank reiterated that negative interest rates and purchases of foreign bonds remain a policy option. That, however, failed to weaken the New Zealand dollar. The pair may extend the decline, as Australia reported a 4.2% month-on-month decline in August Retail Sales early Wednesday. The weak data validated the Reserve Bank of Australia’s recent view that Australia’s economic rebound has been gradual and even and a quick recovery from recession looks unlikely. As such, the Aussie dollar bulls could remain on the sidelines. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD hovers near $1,900, daily chart shows bearish pattern FX Street 2 years AUD/NZD drops as the Reserve Bank of New Zealand keeps rates unchanged. The central bank leaves the door open for negative rates and foreign QE. AUD/NZD fell from 1.0814 to 1.0750, the lowest level since Aug. 4, after the Reserve Bank of New Zealand kept interest rates and the large scale asset purchase program's size unchanged as expected. The pair dipped below the 100-day simple moving average (SMA) for the first time since April 9. The SMA is currently located at 1.0767. The policy statement said that the balance of economic risks is skewed to the downside, and progress is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.