Aussie fails to capitalize on market flows, AUD/NZD ends Monday with a new five-month low

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