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AUD/NZD awaits risk events in RBA and GDT

FXStreet (Guatemala) - AUD/NZD is trading at 1.1000, down -0.60% on the day, having posted a daily high at 1.1089 and low at 1.0998.

AUD/NZD has been fixated on the 1.1000 level and attempts through the level have been held up at support 1.0980 around S3 at 1.0989. Looking ahead, the SMA 200 on the daily chart stands out as next target around 1.0912 protecting negative territory and a possible breakout of current medium term range of 1.0900 / 1.1300.

Up ahead today we have the minutes of RBA minutes for the November meeting. Traders are not expecting any surprises from here but further down the line we have the RBA’s foreign exchange transactions that will be published on Nov 20th. Besides news around Australia’s events, we have the Global Dairy Trade auction (GDT) coming up at 12 GMT and the big declines in milk powder have been weighing on the kiwi of late.

AUD/NZD note worthy levels

With spot trading at 1.1001, we can see next resistance ahead at 1.1011 (Daily Classic S2), 1.1014 (Weekly Classic S1), 1.1024, 1.1031 (Hourly 20 EMA) and 1.1033 (Daily 100 SMA). Support below can be found at 1.0998, 1.0989 (Daily Classic S3), 1.0960 (Weekly Classic S2), 1.0912 (Daily 200 SMA) and 1.0886 (Weekly Classic S3).

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