Nearing Support From Fibo Retracement/200-DMA

AUD/NZD has shed 3 pips thus far and last trades at NZ$1.0663, struggling for a clear direction in today's relatively slow Asia-Pac session. Neither in-line trade date out of New Zealand, nor Australian improving ANZ Roy Morgan Weekly Consumer Confidence Index has provided any meaningful impetus. RBA Dep Gov Debelle & Asst Gov Bullock have also offered little of note, leaving the rate stuck within a narrow 16-pip range.

• The pair registered losses on 11 out of the last 13 days since it charted a bearish Harami candlestick pattern on Oct 9. The move has been aided by re-pricing of potential for RBA easing at the next meeting, but the slide has now stalled ahead of the nearby 38.2% retracement of the rally from the YtD low onto the YtD peak at NZ$1.0644, followed by the ascending 200-DMA at NZ$1.0631. The rate had a look into the NZ$1.0644-31 zone yesterday and bears continue to look for a clean break below there, before taking aim at NZ$1.0566, the low print of Jul 10. Bullish focus falls on Oct 20 high of NZ$1.0726 and a move through there would expose the 100-DMA/breached trendline support at NZ$1.0778/79.
• RBA's Bullock will deliver an online speech at Ayr Chamber of Commerce later today.