AUD/NZD catches a bid as the NZD sinks on dovish rhetoric

• AUD/NZD up on dovish RBNZ, but downside risks are still heavily present.
• RBA head to talk at Australian summit today, RBA policy statement tomorrow.

AUD/NZD found some buyers during Aisa and is currently trading near the 1.0860 handle in early Tokyo trading.

AUD/NZD got a lift along with other NZD pairs after the RBNZ's Assistant Governor Jon McDermott gave a mildly dovish interpretation of the RBNZ's stance on the New Zealand economy, voicing a willingness to continue to ease rates while other central banks around the world are preparing to rasie theirs, with the RBNZ having no intention of even considering lifting interest rates until at least mid-2019.

It's not too late for the AUD to catch its own bearish sailwind though, as the RBA's Governor Philip Lowe will be giving a speech on Friday at the Australian A50 Economic Forum, starting around 09:00 GMT. Dovish sentiments from the central banker's ehad could send the AUD drifting ahead of the RBA's full-on Monetary Policy Statement, on Friday at 00:30.

AUD/NZD Technicals

The pair is being its usual volatile self, with swing support/resistance at 1.0807 and 1.0878, respectively. Hourly charts show the pair starting to grind its way back up into last week's bearish run, and the 1.0877 level could prove to be a tricky spot for buyers. Daily charts show heavy pressure for any bull runs: price is currently crossing over the 200-day SMA, and will need a decided push to close back over the key indicator. 

Today's pivot points:
R2: 1.0898
R1: 1.0849
PP: 1.0798
S1: 1.0748
S2: 1.0697