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AUD/NZD Pops Higher On New Zealand's Inflation Data

AUSSIE-KIWI

AUD/NZD pushed higher as New Zealand's Q3 CPI data undershot both market & RBNZ expectations, while AUD has held up well against most of its G10 peers. The rate topped out at NZ$1.0690, eased off and last trades +11 at NZ$1.0673.

  • Today's uptick leaves bulls hoping that the recent losing streak can be snapped. AUD/NZD registered losses in 9 out of the last 10 sessions. The odd one out was a virtual Doji candlestick on Oct 20.
  • Bulls look for a jump above Oct 20 high of NZ$1.0726, towards the 100-DMA/Oct 14 high at NZ$1.0778/89. Conversely, a dip under the 200-DMA at NZ$1.0628 would turn focus to the next key support at NZ$1.0566, the low of Jul 10.
  • The RBNZ has just released its sectoral factor model inflation index, which rose 1.7% Y/Y.
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