RBA was less dovish- more hawkish in its statment yesterday
Two Main changes in the statment yesterday, compared to last month:
1) A sentence was added about employment: "growth of employment and a steady rate of unemployment over the past year. ".
2)Hints to strong AUD was omitted. Precisely: "Further depreciation seems both likely and necessary,"
Bottom line: it seems that the RBA is holding neutral for now, with no additional rate cuts on the horzion
The RBNZ on the other hand hinted in its previous assesment that further rate cuts is likely in the near future.
My best regards
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I am not going for a blind long though, i admit that the recent devaluation from china has made it not as clear as it was before, but if a see a strong technical confirmation i would go long.
Though I am new to this forum and AUDNZD is not my currency, however just looking this weekly chart formation prompt me to disagree with your current bullish views based on the following logics.
a. Monthly formations indicates currency had bottom out in April and already moved good 1400 pips until June. The July downward correction seems first leg and current bull is second leg in making while a final bearish correction has to come that may bring currency back to 1.07 levels.
b. The weekly candle formation is premature as doji need confirmation for minimum two bullish candles that should not bring currency below 1.10
My views are invalid if pair decisively breach upward barrier and trade above 1.14 after today (5th August).
Still I wish you Good Luck !!