• AUD/NZD finished +1.4% Wed after simultaneous divergence between RBA & RBNZ

• Pair is +17.7% from its 1.0652 Apr 2025 low, with the rally re-accelerating

• RBNZ's shock hold undermines NZD just as the RBA is upping hawkish rhetoric

• While both central banks are in a hiking cycle, RBNZ has ceded credibility

• AUD/NZD remains a 'buy the dip' scenario, 1.2270 zone a significant support

• Range Asia 1.2524-44, support 1.2269 1.2141 1.1912, resistance 1.2678
AUDNZD Daily Fibonacci Study


AUDNZD Monthly

(James Connell is a Reuters market analyst. The views expressed are his own.)