2026-10-23 Readings lean neutral
AUD/NZD trades lower in a ranging market ahead of the RBNZ rate decision.
The AUD/NZD pair is trading slightly lower at 1.23200. The market is currently ranging on the four-hour chart and trending down on the one-hour chart. Both the Australian and New Zealand dollars are showing flat momentum over the past 24 hours.
Trend and momentum
The four-hour trend structure is ranging, while the one-hour trend points down. Momentum is weak, with the one-hour RSI at 40.82 and the four-hour RSI at 44.74. Price action remains inside the one-hour Bollinger Bands without a squeeze, and there is no recent MACD cross. The pair has already used 95 percent of its average daily range today.
Key levels
Key levels to watch include yesterday's high at 1.23673 and yesterday's low at 1.23069. A break above yesterday's high could open the path toward the recent four-hour high of 1.23716 and last week's high of 1.24946. Conversely, a drop below yesterday's low might push the pair toward the recent four-hour low of 1.22746 and last week's low of 1.22692.
News and events this week
The Reserve Bank of New Zealand will hold its Monetary Policy Review on October 28, where markets expect a rate hike to 3.00 percent. New Zealand recently reported annual inflation at 3.7 percent on October 22. In Australia, Reserve Bank Deputy Governor Hauser warned on October 21 that the inflation outlook is worsening. This has increased market expectations for a potential rate hike at the upcoming RBA meeting on November 3.
What would push it higher
If the pair finds support above yesterday's low, buyers might push the price back toward the top of the recent four-hour range.
What would push it lower
If sellers break below yesterday's low, the pair could test last week's support levels.
The engine has no open signal on this pair. Today's signals →