AUD/NZD has extended losses upon the....>

AUSSIE-KIWI: AUD/NZD has extended losses upon the release of the minutes of the

RBA's Dec monetary policy meeting. The document revealed that "members agreed

that it would be important to reassess the econ outlook in Feb '20, when the

Bank would prepare updated forecasts" adding that "the Board had the ability to

provide further stimulus to the econ, if required." The RBA reiterated the

"gentle turning point" message, while pledging to monitor developments in the

economy, including the labour market.

- Australian housing finance figures came out alongside the RBA minutes. They

were computed according to a new, revised methodology.

- A solid ANZ Biz. Conf. Survey released earlier out of NZ has supported the

kiwi. While still -ve, headline index printed at the highest lvl since Oct 2017.

- After shedding 24 pips, AUD/NZD now trades at NZ$1.0412. For bears, the

initial technical barrier is provided by NZ$1.0407/06, the 76.4% retracement of

the Aug 6 - Nov 7 rally/lows of Dec 6 & 9. Below there would open the Dec 11 low

of NZ$1.0389. Bulls need a clearance of the Dec 13 peak at NZ$1.0487 before

targeting the 23.6% retracement of the Nov 7 - Dec 11 fall at NZ$1.0502.