AUD/NZD gets little help from RBA minutes

• The Aussie sees little action following the RBA's meeting minutes.
• Bearish tone set to continue as the Fed's rate increase looms.

The AUD/NZD is on the low side as the AUD continues to lose ground across the broad currency market, and the pair is trading near 1.0650 in early Tokyo after the Reserve Bank of Australia's (RBA) Meeting Minutes.

RBA's Meeting Minutes drop, AUD limited on reaction

The Aussie is picking up a bit of a bid following the RBA, which reiterated their cautionary line about a lifting AUD hampering inflationary efforts, and how steady jobs growth has not led to a matching pick-up in wage growth. The optimistic byline is that the RBA expects GDP growth to outpace the anticipated potential for 2018, and the Aussie is catching a brief reprieve following the not-as-dovish-as-expected RBA.

The Kiwi has little data except for the Global Dairy Trade auction taking place during the London session. The GDT has had little impact on the Kiwi lately, and this week's events will be overshadowed by the Fed's imminent rate increase happening on Wednesday.

AUD/NZD levels to watch

The pair continues to trade on the low side deep into bearish territory, and current support is thin from yesterday's bottom at 1.0635, while resistance is stacked from yesterday's high point of 1.0690, followed by last week's swing low points of 1.0710 and Friday's swing high of 1.0755.