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ANZ/NZD Eyes 1.0700 Ahead of Inflation and Building Approval Data

NZD
  • AUD/NZD benefitted from a weaker NZD over the past week, re-testing the 1.0700 level on Friday, however was unable to break back above it to finished the week at 1.0683. As trading gets underway on Monday the pair is unchanged while trading in a 20 pip range ahead of Australia has Melbourne Inflation data and Building approvals.
  • Key technical levels to watch initial resistance at 1.0700 (Feb 16 Highs), above here 1.0740 (Feb 7 Highs). While to the downside 1.0650 (Feb 29 lows) break would open up a retest of 1.0600 (Feb 28 and pre RBNZ levels)
  • Looking ahead: AU Melbourne Institute Inflation at 11.00am AEST & Building Approvals at 11.30am AEST
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