- The Aussie is struggling to develop real momentum against the Kiwi after a flat Monday.
- The AUD/NZD is stalling after a failed bull run back towards 1.0900.
- RBA minutes due early on Tuesday.
The AUD/NZD went flat on Monday as the pair pauses a bullish rebound towards the 1.0900 handle.
A speech from Reserve Bank of Australia (RBA) Governor Michelle Bullock is due early in the Tuesday session, followed by the RBA’s latest Meeting Minutes. RBA Governor Bullock will be speaking at the Australian Securities & Investments Commission’s Annual Forum, branded “State of the Economy”.
The RBA’s latest Meeting Minutes will also be due early Tuesday.
New Zealand’s Trade Balance figures missed the mark late Monday, with the NZD Trade Balance in October missing expectations to print at $-1.709B, far below the expected recovery to $-600M against September’s $2.425B.
Australian Dollar price today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the Japanese Yen.
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
AUD/NZD Technical Outlook
The AUD/NZD is struggling to push out of a consolidation pattern just north of the 200-day Simple Moving Average (SMA), and the pair is stalled out below the 1.0900 handle.
With the pair grinding sideways through most of 2023, long-term technicals have been pushing into the middle, and the 50- and 200-day SMAs have been consolidating near 1.0800.
AUD/NZD Daily Chart