WELLINGTON: The Australian and New Zealand dollars crept cautiously higher on Tuesday, though the market lacked inspiration following underwhelming economic data out of China.
The Australian dollar inched up to $0.7260, from $0.7246. Initial support is found at a key retracement level of $0.7235-40 with a major guardrail near 72 cents.
It was marginally supported after minutes of the October 6 policy meeting showed the Reserve Bank of Australia (RBA) saw signs economic activity was rebalancing toward sectors outside of the struggling mining industry.
