Following the low Australian Inflation data and subsequent RBA rate cut, focus turns to New Zealand with Retail Sales due this Friday followed by Inflation and Dairy Auctions data due early next week.
A hold at current levels ( presently at 1.0743 ) and some negative NZ data could see a rally higher on AUDNZD and try to close that price GAP up around 1.1055.
Conversely, A convincing break of the trendline below 1.0700 could see AUDNZD heading down to test some horizontal support around 1.0550
AUD/NZD Daily Chart:
Click on chart to see a larger view.
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