Commodity currencies are making some pullback against the USD, except AUDUSD where we see pair higher after RBA Rate Statement (1.5%), Retail Sales (-0.4% vs 0.0%) and Trade Balance (3.68B vs 2.25B) figures. Technically speaking, there is room for 0.7300/0.7340 area while pair is above 0.7175.

AUDUSD, 1h

intraday audusd

NZDUSD may also still see more gains, but only if current support around 0.6870 and current trendline will hold. It’s a nice zone for a potential bounce later today. But if we do not get a recovery today, then I think pair can be in a deeper pullback here.

NZDUSD, 1h

intraday nzdusd feb 05 2019