Ella 
AUD/NZD fell back to a daily low of 1.0840 on Wednesday, with a correction ahead of labor market data to be released on Thursday. The New Zealand dollar was relatively steady, unaffected by the apparent lackluster economic events in New Zealand.
Australia’s unemployment rate expected to hold steady
Australia’s unemployment rate is widely expected to hold steady at 3.7% in August, unchanged from the previous reading.
Meanwhile, Australia’s August employment change is expected to be higher, with market analysts expecting employment to increase by 23,000 compared with a decrease of 14,600 previously.
NZD/USD economic events are light, but Chinese data to be released on Friday, including China’s industrial production data and China’s total retail sales of consumer goods in August, may bring some momentum to the Australian dollar and produce indirect market effects.
China’s total retail sales of consumer goods in August are expected to rise to an annual rate of 3% from 2.5%, while China’s industrial production data will also improve, expected to be 3.9%, compared with the previous value of 3.5%.
AUD/NZD remains volatile, with the Australian dollar falling on Wednesday pushing AUD/NZD into its recent consolidation range. The 100-day simple moving average (SMA) continues to provide support in large-level candlestick cycles, but the 50-day simple moving average continues to consolidate, raising the prospect of consolidation in AUD/NZD.
The current resistance of AUD/NZD is around 1.0920, the most critical swing range high reached at the end of July, while the lower limit is at 1.0740, the low of the swing range in early August.
