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AUDNZD and the RBNZ's hold
The RBNZ holding rates steady yesterday certainly gave $AUDNZD a bit of a kick, pushing it back towards the 1.215 resistance before pulling back slightly. With the day's range for $AUDNZD showing 1.21308–1.21538, it's clear there's still a fight for direction. Watching how the market digests that RBNZ decision over the next few days. Could see a retest of the lower bound if the market starts to price in further rate divergence down the line, or perhaps we hold this consolidation.
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It's interesting how quickly the market digested that RBNZ news. Do you think the RBA's upcoming decision could further complicate the direction for AUDNZD, especially if they signal a different path?