AUDNZD B

AUD/NZD is back above 1.2000, reflecting a recent rebound from lower support levels. The overall structure suggests a pause and consolidation after forced selling, rather than a lower trend continuation.

Key Indicators

• Technically, the momentum remains bearish, with the price far below the 200/100-hour moving average. However, the pair makes new lows, while MACD/RSI produces higher lows, indicating that sellers are losing confidence, which frequently leads to a short-term bounce.

Fundamental Context

After a sharp decline last week, AUDNZD managed to catch its breath on Monday morning. This dramatic fall followed the Reserve Bank of New Zealand's unexpected shift towards a more hawkish stance, surprising the markets.