KONTAN.CO.ID - SYDNEY. The Australian dollar climbed to a two-week high on Tuesday on greater optimism about the country's economic outlook after a gauge of business conditions rose to a record, while the New Zealand dollar added to two straight sessions of gains. National Australia Bank's index of business conditions rose in February to the highest reading since the survey began in 1997, with the strength in activity broad-based across major industry groups. The reading cheered traders who took the Australian dollar to $0.7885, a level not seen since Feb. 26. Technical chart resistance lies at $0.7893, and a breach above could see it testing $0.8000.
Australian dollar at 2-week top after solid data, kiwi firm
KONTAN.CO.ID - SYDNEY. The Australian dollar climbed to a two-week high on Tuesday on greater optimism about the country's economic outlook after a gauge of business conditions rose to a record, while the New Zealand dollar added to two straight sessions of gains. National Australia Bank's index of business conditions rose in February to the highest reading since the survey began in 1997, with the strength in activity broad-based across major industry groups. The reading cheered traders who took the Australian dollar to $0.7885, a level not seen since Feb. 26. Technical chart resistance lies at $0.7893, and a breach above could see it testing $0.8000.