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AUD/NZD Ticks Higher, Consolidates Above 50-DMA

AUSSIE-KIWI

AUD/NZD has added a handful of pips and last deals at NZ$1.0702. Little to move
the needle so far, which leaves the rate happy to hold a fairly narrow
range. The 50-DMA, intersecting at NZ$1.0689, continues to provide
support, following two unsuccessful attempts at a sustained move below there
seen over the past two days. A clean breach of the level would open up Jul 20
low of NZ$1.0656. On the flip side, bulls look for a rally above Jul 11
high of NZ$1.0755 would generate some topside momentum, clearing the way to
the NZ$1.0800 mark.

  • Statistics NZ published monthly employment indicators for June, which showed
    that seasonally adjusted filled jobs rose 0.8% M/M.
  • Elsewhere, Australia's ANZ Roy Morgan Weekly Consumer Confidence fell to 89.0
    from 90.7, as the resurgence of Covid-19 weighs on sentiment.
  • Australian weekly payroll jobs and wages data is due later today.
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