Both the AUD and NZD were down during the session. The RBA minutes for July left the door open for an August rate cut and weighed on the AUD. The Q2 CPI due next week will be influential.
On the technical side, we are looking at two consecutive sessions that rejected a key weekly level and 200 MA. There is room for a decent return. Although the recent bullish momentum is cause for concern, the underlying technical factors for the trade are strong.
On the technical side, we are looking at two consecutive sessions that rejected a key weekly level and 200 MA. There is room for a decent return. Although the recent bullish momentum is cause for concern, the underlying technical factors for the trade are strong.