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Australia, NZ dollars hit one-month lows as support breaks
The Australian and New Zealand dollars hit one-month lows on Tuesday after breaching key support levels as risk appetite ebbed, while domestic data added to signs that interest rates Down Under have peaked and the next move would be down. The Aussie fell 0.5% to $0.6625, the lowest level in a month, after a 0.4% drop overnight. It had been struck in a narrow range of $0.6640 and $0.6730 for the past two weeks, failing to break any higher. Sellers piled in as risk appetite took a turn for worse in Asia, targeting the 200-day moving average of $0.6580 now that the level of $0.6640 has been breached. The kiwi fell 0.5% ... (full story)