- 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.
|Today last price||1.0728|
|Today Daily Change||-0.0010|
|Today Daily Change %||-0.09|
|Today daily open||1.0738|
|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|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.