AUD Eases from July 9 High vs NZD Ahead of Key Data and Central Bank Event Risk

The Australian Dollar (AUD) has eased from its July 9 high against the New Zealand Dollar (NZD), but remains supported by a hawkish outlook from the Reserve Bank of Australia (RBA).

This week's key data and central bank event risk is keeping traders cautious, particularly ahead of Wednesday's release of Australia's Q2 GDP report and the RBNZ rate decision.

The AUD/NZD cross has turned positive for the fourth straight day, climbing to a fresh high since July 9. However, spot prices are struggling to build on momentum and currently trade just above the 1.2100 mark.