It has been a hawkish month for the Reserve Bank of Australia. The recent meeting suggests that their guidance ramps up into a more hawkish tone. Both monetary and fiscal policies are aussie positive, so far. One thing I keep in mind is their fiscal policy in response to the current covid-19 lockdowns. I believe that the Reserve Bank of New Zealan is overly hawkish, given their currency price. For the next few weeks, the AUD currency give us a more underdog positioning to exploit versus the NZD currency. Technicals:
(1) Monthly support
(2) 61.8% fib
(3) Oversold indicators
(4) Divergence
(5) RSI at extreme levels


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