Aussie fails to capitalize on market flows, AUD/NZD ends Monday with a new five-month low
|- The AUD/NZD caught a late-Monday bump to 1.0680, but quickly fell back into familiar territory.
- The Aussie is slightly down for Monday against the Kiwi, settling near 1.0650 after opening the trading week near 1.0665.
- Next up on the calendar: Aussie Westpac Consumer Confidence.
The AUD/NZD spent most of Monday waffling to the downside, hitting a new five-month low before catching a late-day rebound into 1.0680. The chart run-up was short-lived, however, and the pair is now flubbing back below 1,0650.
The Aussie (AUD) has steadily bled chart space to the Kiwi (NZD) since September's peak near 1.0900, and the AUD/NZD is down almost 2.5% after declining for three straight weeks.
Next up on the economic calendar data docket will be Australian Westpac Consumer Confidence for October, which last printed at -1.5%.
The rest of the trading week has no high-impact figures slated for release for either the AUD or the NZD, though Aussie bulls will be keeping an eye out for a speech from the Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent on Wednesday.
Thursday brings mid-tier data for both the Aussie and the Kiwi, with Australian Consumer Inflation Expectations for October (last print: 4.6%), followed by the New Zealand Business NZ Purchasing Manager Index (PMI) for September, which last came in at 46.1.
AUD/NZD Technical Outlook
The AUD/NZD has fallen back into five-month lows below 1.0650 as the Aussie-Kiwi pairing slumps far away from the 200-day Simple Moving Average, all the way back at 1.0820.
Previous resistance-turned-support is parked at previous swing lows near 1.0750, and the downside sees little in the way of technical support until May's swing lows into 1.0570.
AUD/NZD Daily Chart
AUD/NZD Technical Levels
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