AUD/NZD chart - Trading View
AUD/NZD was trading 0.74% lower on the day at 1.0630 at around 09:15 GMT, edging slightly higher from session lows at 1.0617.
The pair plunged lower after the kiwi was boosted across the board on hawkish surprise from the RBNZ.
The RBNZ held the Official Cash Rate unchanged at 0.25%, matching wide market expectations.
The central bank surprised with taper announcement, saying that it would "Halt additional asset purchases under the Large Scale Asset Purchase (LSAP) program by 23 July 2021.”
On the data front, New Zealand Visitor Arrivals for May jumped past 1,785.7% expected to 2,531.6% YoY, another positive for the kiwi.
AUD/NZD technical bias has once again turned bearish after price action was rejected at 200-DMA resistance.
The pair is testing channel base support at 1.0625. Decisive break below will plummet prices further. Next bear target 1.06 (May 27 low).
