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AUD/NZD swings and roundabouts

FXStreet (Barcelona) - AUD/NZD is trading at 1.1017, down -0.10% on the day, having posted a daily high at 1.1038 and low at 1.0978.

AUD/NZD has settled after the CPI data that markets have used as trade in an otherwise light session with very little out there to go on. The data was in effect in line with CPI at 2.3% y/y vs 2.3% y/y expected in 3Q; prior at 3.0% y/y in 2Q. The pair has challenged both the downside and upside in over a 50 pip range on the data while looking ahead to the RBA’s next meeting in November, they can be comfortable with the outlook going into the meeting that in respect the sluggish wage growth.

AUD/NZD noteworthy levels

Current price is 1.1017, with resistance ahead at 1.1022 (Daily Classic PP), 1.1026 (Hourly 20 EMA), 1.1029 (Hourly 100 SMA), 1.1034 (Daily Open) and 1.1038 (Daily High). Next support to the downside can be found at 1.1007 (Weekly Low), 1.0992 (Daily Classic S1), 1.0985 (Yesterday's Low), 1.0978 (Daily Low and 1.0978 (Daily 100 SMA).

RBA likely to be comfortable on the CPI in line

The Consumer Price Index released by the RBA and republished by the Australian Bureau of Statistics came in line.
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