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AUD/NZD remains in rising channel

FXStreet (Barcelona) - AUD/NZD is trading at 1.1048, having posted a daily high at 1.1059 and low at 1.1038.

In a drifting and rising trend, the FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bulish. The pair is slightly offered on the sort term however but well within the containing channel. Meanwhile, daily RSI is in neutral territory at 43.80. The 200 SMA is currently at 1.1030, down from 1.1124 at the last period close, and declining on the hourly AUD/NZD chart.

This week has a couple of key events for the Aussie and Kiwi. First up, we have the RBA’s meetings minutes, and these are likely to remain with same rhetoric in respect of the usual wait and see approach from the RBA. For both Australia and New Zealand, we will see the results of the CPI year on year and Q/Q for the third Quarter. Finally, we have some more of that from Glenn Stevens speaking later in the week on Wednesday when he is speaking in Sydney Limits.

AUD/NZD noteworthy levels

With spot trading at 1.1048, we can see next resistance ahead at 1.1050 (Daily Open), 1.1059 (Weekly Classic PP),1.1059 (Daily High) and 1.1072 (Hourly 100 SMA). To the downside we see next support at 1.1042 (Hourly 20 EMA), 1.1038 (Daily Low), 1.1007 (Weekly Low), 1.1004 (Yesterday's Low) and 1.1002 (Daily Classic S1).

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