The AUD/NZD sellers took a Monday pause after the tally of a two-day losing streak at the end of last week.
On Monday, the AUD/NZD paused its selling trend, marking a two-day losing streak at the end of last week. New Zealand's June ANZ consumer and business surveys are eyed in this Wednesday's Asian session. Australia 's AUD continues to be driven by anticipations of the upcoming CPI data, also due this Wednesday. The Reserve Bank of Australia and the Reserve Bank of New Zealand moves are awaited by investors, who continue to place their bets.
In the meantime, the RBA remains patient, maintaining that a considerable period will elapse before inflation sustainably sits within the 2-3% target range. It's worth noticing that Governor Bullock noted last week that the bank will do whatever is necessary to tackle inflation and this hawkish stance might cushion the Aussie. AUD/NZD technical analysis In the near term, the technical outlook for the AUD/NZD cross remains positive, recording a gain of nearly 0.80% in the previous fortnight.
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