Antipodean FX Softer On Victoria Covid Worry, AUD/NZD Range-Bound

AUD/NZD oscillates around unch. levels, last sits at NZ$1.0775, after
rising to levels not seen since Jun 3 on Wednesday. A break above yesterday's
peak at NZ$1.0794 is needed to keep topside momentum intact and bring Jun 2
YtD high of NZ$1.0881 into view. Bears look for a pullback under the 50-DMA
at NZ$1.0691 before targeting Jul 27 low of NZ$1.0672.

• The Antipodean currencies have been somewhat unnerved after the Australian
  reported that Victoria will declare a record 723 new Covid-19 cases today,
  following earlier chatter of >700 new patients. AUD & NZD sit at the
  bottom of the G10 pile at typing.
• NZ building approvals rose 0.5% M/M in Jun, Australian counterpart is due
  later in the day. Final ANZ Business Confidence out of NZ, as well as
  Australia's terms of trade will also be watched today.