4 Aug 2015
AUD/NZD bears taking back control ahead of RBA
FXStreet (Guatemala) - AUD/NZD is currently trading at 1.1077 with a high of 1.1123 and a low of 1.1068.
AUD/NZD is set up awaiting the RBA today having been on the bid for the best part of overnight trade, reclaiming ground on the 1.11 handle. However, this was taken up by the bears and the cross's bulls were forced in to submission from 1.1119 until 1.1080 support. Early Asia is trading with a downside bias ahead of key numbers from the Australian retail sales and trade balance while the RBA may be the nail in the coffin for the bulls depending how dovish the rhetoric comes.
Domestically for the bird, we wait the labour costs and the unemployment data and we also have the GDT Price Index tomorrow. Technically, 1.0920 and 1.1120 are the key levels to monitor with 1.1140 to the upside guarding 1.1200 and 1.0900 guarding space towards 1.0760.
AUD/NZD is set up awaiting the RBA today having been on the bid for the best part of overnight trade, reclaiming ground on the 1.11 handle. However, this was taken up by the bears and the cross's bulls were forced in to submission from 1.1119 until 1.1080 support. Early Asia is trading with a downside bias ahead of key numbers from the Australian retail sales and trade balance while the RBA may be the nail in the coffin for the bulls depending how dovish the rhetoric comes.
Domestically for the bird, we wait the labour costs and the unemployment data and we also have the GDT Price Index tomorrow. Technically, 1.0920 and 1.1120 are the key levels to monitor with 1.1140 to the upside guarding 1.1200 and 1.0900 guarding space towards 1.0760.