- Aussie gets a lift against the Kiwi as NZ figures miss the mark.
- The AUD sees a quiet start to the week with a limited showing on the economic calendar.
The AUD/NZD is climbing after the Kiwi flubbed early week economic figures, and the pair is trading into 1.0900 ahead of Monday’s Tokyo open.
The Aussie caught some early lift against the NZD this week after the New Zealand Retail Sales figures missed expectations, coming in at just 0.1% for the first quarter, far below the previous reading of 1.7%. The Kiwi has been plagued by consistently disappointing data as of late, and the Reserve Bank of New Zealand is expected to remain flat on interest rates well into 2020.
The AUD sees little action on the economic calendar for the early week, and the first release for the Aussie won’t come until early Wednesday at 01:30 GMT, with Construction Work for the first quarter expected at just 1.0% after the previous reading’s -19.4% contraction.
AUD/NZD levels to watch
The pair is still holding just above the 200-day SMA for now, after swooning near the technical incidator last week, and the pair looks geared to make a recapture of the 1.0900 handle to challenge January’s highs near 1.1070, though a bearish correction from here could see thew pair fall back under a long-term trendline from October 2017’s high at 1.1290, and little support remains nearby, with the 50-day EMA at 1.0700, with May’s low nearby at 1.0650.
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