The Aussie has been climbing against its New Zealand counterpart after Reserve Bank of Australia's monetary policy announcement at 12:30 am ET Tuesday. The Reserve Bank of Australia decided to lower the cash rate by 25 basis points to 3%, effective from April 8. Economists had expected the central bank to hold key interest rate at 3.25%. The Aussie thus rose to a 4-day high of 1.2325 versus the New Zealand dollar from an earlier low level near 1.2149. The pair closed yesterday's deals at 1.2144. If the Australian currency rises further, 1.24 is seen as the next likely resistance level.
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