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AUD/NZD Rangebound, Unable To Test 1.0700

NZD
  • AUD/NZD has traded sideways in a 15pip range and hasn't looked like testing the 1.0700 level. The pair hit lows of 1.0671 and highs of 1.0689, and currently trades near the highs at 1.0683.
  • 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: Monday AU has Melbourne Institute Inflation & Building Approvals, while NZ has Terms of Trade Index

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