The Australian and New Zealand dollars eased from multi-month highs on Monday after running into profit-taking, but some market players thought the pull-back was temporary especially if Australia sees a rate rise this week.
The Australian dollar eased to $0.9695, off the day's high of $0.9737 and Friday's two-year peak of $0.9751. Support was seen at $0.9688, then $0.9659, and resistance at Friday's high of $0.9751, followed by the 2008 peak of $0.9851. The New Zealand dollar was also slightly weaker at $0.7423, down from a near 11-month high of $0.7464 hit offshore on Friday. Rates stand at 4.5 percent, and the market is priced for a 73 percent.