• AUD/NZD has been under continuous selling pressure since June 14.
  • The Aussie weigh down by the outbreak of the highly contagious Delta variant and mixed economic data.
  • Kiwi remains grounded on RBNZ upcoming policy meeting on rate hikes hope.

AUD/NZD retreats after printing some initial gains on Monday in the Asian session. The pair has been in continuous downside momentum for above one month, after making a high at 1.0824 on June 14.

At the time of writing, AUD/NZD is trading at 1.0454, up  0.27% for the day.

A combination of factors weighing the performance of the Australian dollar against its counterpart.

The Aussie remained pressurized on the extension of lockdown amid renewed COVID-19 jitters and downbeat economic data at home.

Market participants remained cautious amid the worsening domestic coronavirus situation. New South Wales state recorded a nearly 20% jump in fresh coronavirus infections overnight. Australia’s New Home sales plunge 20.5% on monthly basis.

It is worth noting that S&P 500 Futures were trading at 4,452 with 0.22% losses.

On the other hand, Kiwi gained on the better COVID-19 situation. There were no fresh cases recorded in the community as per the Ministry of Health.

The Reserve Bank of New Zealand (RBNZ) is expected to announce interest rates hike in its upcoming policy meeting. The recent Kiwi’s gains were trimmed after not so enthusiastic data.

The BusinessNZ Performance of Service Index edged down 57.9 in July from 58.4 in the previous month.

As for now, traders are waiting for the critical  Chinese data to gauge the market sentiment.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price 1.045
Today Daily Change -0.0013
Today Daily Change % -0.12
Today daily open 1.0463
 
Trends
Daily SMA20 1.0532
Daily SMA50 1.0652
Daily SMA100 1.0713
Daily SMA200 1.07
 
Levels
Previous Daily High 1.05
Previous Daily Low 1.0456
Previous Weekly High 1.0513
Previous Weekly Low 1.0441
Previous Monthly High 1.0762
Previous Monthly Low 1.0509
Daily Fibonacci 38.2% 1.0473
Daily Fibonacci 61.8% 1.0483
Daily Pivot Point S1 1.0447
Daily Pivot Point S2 1.043
Daily Pivot Point S3 1.0403
Daily Pivot Point R1 1.049
Daily Pivot Point R2 1.0516
Daily Pivot Point R3 1.0533

 

 

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