AUDNZD - BEARISH BIASAUD - Bearish
1️⃣ Victoria has announced to extend its lockdowns.
2️⃣ AUD depressed amid new US-China tensions after the Biden administration issued sanctions related to Hong Kong.
3️⃣ The risk-off environment in the market usually pressure on high-beta currencies such as AUD.
4️⃣ Australian retail sales are expected to decline following the lockdowns in the country.
NZD - Bullish
1️⃣ At its July meeting, the Reserve Bank of New Zealand had kept its interest rate at a record low of 0.25%, however it will stop buying on additional assets under the large -scale asset purchase program (LSAP) from 23 July 2021.
2️⃣ The annual inflation rate in New Zealand soared to its highest level in almost 10 years.
3️⃣ Kiwibank predicts that the New Zealand central bank (RBNZ) will raise its interest rates this August, in line with the views of several other large banks in New Zealand.
=====
TECHNICAL
=====
- Intraday setup on H1 chart.
- We're shorting this pair on support breakout.
- Below SMA50.
TRADE AT YOUR OWN RISK!!
