AUDNZD lacking direction, but still on the ropes

2 Sep 2016

AUDNZD continued lower having failed to break on it's NFP move higher and is currently hovering above the RBA interest rate cut low, NFP today could give it some life but next weeks RBA will be more likely the next catalyst. A break below the 1.0320 area opens up potential move toward the 2015 low just above the parity level, if we see a dovish RBA next week we could see this quite quickly