AUD/NZD has added 9 pips and last.......>

AUSSIE-KIWI: AUD/NZD has added 9 pips and last trades at NZ$1.0414. The rate has

ebbed off its earlier session high at NZ$1.0420, touched after Westpac lowered

its RBNZ call, now expecting two more cuts to the OCR in August and November.

- A clearance of the Jul 22 high at NZ$1.0422 would shift bullish focus to

NZ$1.0444, which represents the lows of Jul 11 & 16. Bears need a break below

the psychological NZ$1.0400 mark before attempting a move at the trendline

support, which intersects with the Jul 22 multi-month low at NZ$1.0386. The fact

that the lower Bollinger band (2%) comes in just one further pip below adds

significance to this layer of support.

- RBA Governor Lowe is expected to deliver a speech shortly. The title of his

address is "Inflation Targeting & Economic Welfare."