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AUD/NZD en-route to 1.10 after Aus data

FXStreet (Bali) - AUD/NZD's buying interest on improved Australian business data overwhelmed sellers, with the rate edging higher from 1.0925 low to currently stay at session highs at 1.0975.

Business confidence and conditions out of Australia saw a significant improvements, posting readings of 11 and 8 in July vs 8 and 2 in June.

While the AUD sentiment remains negative, the latest local data, coupled with improved risk sentiment and the ongoing discount of a more neutral stance by the RBNZ in coming months, should keep the market well supported for now.

From an order flow standpoint, a cluster of bids between 1.0920-50 keeps the AUD buoyed, while on the upside, there is now a void area created until 1.1020-50 supply reached.

AUD/JPY popping up through channel resistance

AUD/JPY is trading at 94.84, up 0.20% on the day, having posted a daily high at 94.87 and low at 94.58.
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