The AUDUSD is being weighed down by AUDNZD selling that has taken the cross down towards 1.2520, triggering stops below 1.2560 in the process. The market has been long since Friday following the RBA’s upbeat statement, but the Fonterra news earlier saw NZD racing higher across the board.
Support on the AUDUSD is found at 9185 on the day with the 9140/50 area the top.
Housing Finance in just over 10 minutes may give us a clue to the next move on the day.
