Watching AUDNZD for range break after RBA
That RBA decision was a bit of a snoozer, no real surprises, but the tone on future hikes definitely felt more dovish than I expected. With the inflation data coming in softer globally, it's making me reconsider some of the higher yield plays. I'm keeping a very close eye on $AUDNZD at 1.21379. It's been range-bound for a while, but if the market starts pricing in a wider divergence in RBA/RBNZ paths, that 1.21308 level could be tested hard. A clean break might give a decent short setup for a swing trade, but I'm not jumping in without confirmation.
The RBA's dovishness wasn't a huge surprise given recent data, but I'm not sure that automatically means a AUDNZD range break. RBNZ is facing similar pressures; both currencies could weaken against the dollar.