AUD/NZD unimpressed by the mixed NZ data

The AUD/NZD cross was little affected by the New Zealand data which showed a slowdown in the retail sales growth and a rise in the Producer Price Index.

Offered near 38.2% Fibo

The cross was offered near 1.0563 (38.2% of Sep low - Oct high) earlier today following which the prices hit a session low of 1.0520. The pair was last seen trading around just below the 100-DMA level of 1.0539.

New Zealand retail sales rose 0.9% q/q in Q3 compared to the previous figure of 0.3%. Meanwhile, the producer price index (PPI) input rose 1.5% q/q while the PPI output rose 1%. The data triggered little/no action in the AUD/NZD pair.

AUD/NZD Technical Levels

A break above 1.0550 (50-DMA) would open doors for a possible break above 1.0592 (Oct 20 low) and a move towards 1.0659 (Nov 14 high). On the lower side, a breach of 1.0520 (previous day’s low) would expose 1.0483 (Nov 10 low) and 1.0469 (Nov 3 low).