AUD/NZD up slightly on China data, RBA/RBNZ key rates this week

• AUD/NZD whipped for NFP Friday, continues sideways movement.
• New week, new interest rate decisions from RBA, RBNZ.

AUD found some lift on Tokyo open following upbeat China Caixin PMI data, trading near 1.0860 as of writing. Price traded sideways in the pre-Asia market, with the pair still reeling from the volatility in recent weeks.

AUD/NZD can expect some action this week with both the RBA and the RBNZ posting their respective monetary policy outlooks and first key interest rate decisions of the year, with the RBA on Tuesday at 00:30 GMT and the RBNZ at 20:00 on Wednesday. The Kiwi can expect to be the mover between the pair, with the markets already pricing in a lack of movement on key rates from the RBA, following continued mixed data from Australia amidst growth that continues to disappoint while still being positive.

AUD/NZD Technicals

The pair has made a small break of the messy channel forming on higher timeframes on charts, but the break appears to lack conviction, especially with the 200-day SMA acting as support right near 1.0840. A snap back inside the channel will see price set to contest trendline resistance at 1.1020. Technical indicators on Daily charts have been middling for some time, implying a lack of strength in any of the recent moves. With New Zealand on holidays Tuesday to celebrate Waitangi Day, intraday markets are unlikely to picked a direction until the RBA and RBNZ finish sharing their monetary policy statements this week.

Today's pivot points:
R2: 1.0897
R1: 1.0874
PP: 1.0853
S1: 1.0830
S2: 1.0809