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AUD/NZD bouncing off 1.0920-30 demand

FXStreet (Bali) - AUD/NZD has found some buying interest off 1.0920-30 demand, currently trading at 1.0960 session high.

Peter Fell, Analyst at FXBeat, notes: "The next hurdle for the cross will be the RBA's Statement of Monetary Policy, the detailed statement will be closely eyed for possible revisions in the Reserve Bank's macro forecasts, due at 01:30 GMT."

From a technical perspective, Fell adds that "a triple top looks to have formed up at 1.1049/54, a break of 1.0920 should confirm this, if broken, I would look for a move towards the mid 1.08's, 1.0839 is the 50% fibo on the 1.0624 / 1.1054 rise, 200 DMA comes in at 1.0851; resistance is seen at 1.0973, 38.2% fib on yesterday's fall."

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