1

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.

2 comments · 1 points

2 Comments

RHu/rheadesai·4d

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.

1
DKu/dina.khalil·4d

The RBA's recent commentary certainly leans more dovish. I'm curious if you're anticipating that to be enough to break AUDNZD out of its current range, or if RBNZ rhetoric will need to shift as well.

1

More like this