• AUD/NZD testing the 200-HMA as bears take back control. 
  • Central banks in focus, both RBA and RBNZ weigh weaker economic growth.

AUD/NZD has been testing the 200-hour moving average in the open today, sliding from a high of 1.0744 to a low of 1.0722 in a bearish scenario from on a technical basis, albeit deriving some support on the basis of a less dovish Reserva Bank of Australia. 

Eyes on RBA and RBNZ's next move

However, there was little reaction to RBA governor Lowe’s upbeat tone from the IMF meetings in Washington DC but pricing for a Nov rate cut was lower than as of late Thursday, which helps AUD.

The Reserve Bank, Philip Lowe, said: “Negative interest rates are extraordinary unlikely in my country", further cement the conclusion that the RBAsees the ELB in positive territory and, most likely, above zero. With respect to recent data, the underemployment rate fell from 8.53% to 8.35% which should be will be sufficient to avert another rate cut. As for the Reserve Bank of New Zealand, the RBNZ likely consider weaker economic growth outlook and the risk of inflation expectations slipping.

AUD/NZD levels

AUD/NZD

Overview
Today last price 1.0728
Today Daily Change -0.0010
Today Daily Change % -0.09
Today daily open 1.0738
 
Trends
Daily SMA20 1.0729
Daily SMA50 1.0681
Daily SMA100 1.0579
Daily SMA200 1.0543
 
Levels
Previous Daily High 1.0762
Previous Daily Low 1.0714
Previous Weekly High 1.0795
Previous Weekly Low 1.0685
Previous Monthly High 1.0852
Previous Monthly Low 1.063
Daily Fibonacci 38.2% 1.0732
Daily Fibonacci 61.8% 1.0744
Daily Pivot Point S1 1.0714
Daily Pivot Point S2 1.0689
Daily Pivot Point S3 1.0665
Daily Pivot Point R1 1.0762
Daily Pivot Point R2 1.0786
Daily Pivot Point R3 1.0811

 

 

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