AUD/USD is flat on Monday, continuing the lack of movement seen on Friday. In the European session, the pair is trading at 0.6815, up 0.01% on the day. There are no major Australian indicators on the schedule.
Ahead – RBA Minutes
Investors will be keeping a close eye on the RBA minutes, which will provide details of the RBA policy meeting earlier in November. At that time, the RBA maintained rates at 0.75%. The Australian economy is weak and a dovish message from the minutes could weigh on the Australian currency.
AUD/USD Technical Analysis
After some volatility late last week, AUD/USD has settled down. There is immediate support at 0.6740, and this line could be tested shortly. The next resistance line is at the round number of 0.6900, so the pair does have plenty of room to move upwards.
USD/CNY is trading sideways in Monday trade. In the European session, the pair is trading at 7.0135, up 0.09% on the day. There are no major Chinese events on the calendar.
USD/CNY Technical Analysis
USD/CNY remains range-bound. The pair remains above the 7.00 level, but has not been able to pull away from this symbolic level. On the upside, we find resistance at 7.0400. On the downside, there is support at 6.9735. Below, we have support at 6.9500.
NZD/USD ended the week on a whimper and the lack, of movement has continued on Monday. In the European session, the pair is trading at 0.6404, up 0.06% on the day. There are no major New Zealand releases on Monday.
NZD/USD Technical Analysis
On the technical side, there have not been any changes since Friday. There is immediate resistance at 0.6420. Above, we find resistance at 0.6490, protecting the round number of 0.6500. On the downside, the 50-EMA is situated slightly below the pair and is providing support. Close by, there is weak support at 0.6357. This is followed by support at the round number of 63.00.
This article was originally posted on FX Empire
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