AUD/NZD bulls testing 1.0800 as Australia is exempted from Trump tariffs

• RBNZ Governor Spencer speech on Monday at 23.45 GMT.
• Bulls are eyeing the 1.0875 key level.

The AUD/NZD is currently trading at around 1.0799 up 0.30% on Monday as the Aussie is supported by news indicating that US President, Donald Trump exempted Australia from tariffs on steel and aluminum. 

Later on today, the Royal Bank of New-Zealand Governor Grant Spencer is scheduled to speak at 23.45 GMT.  

The RBA Assistant Governor Bullock is set to speak at 00.10, quickly followed by the release of Australian home loans which are scheduled on Tuesday at 00.30 GMT. 

AUD/NZD daily chart

The AUD/NZD broke the 1.0775 key level on Monday and bulls are now looking at the 1.0810-1.0825  area as the next resistance as it is the 38.2% Fibonacci retracement. Further up, the 50% Fibonacci retracement and the 200 SMA in the 1.0850-1.0875 area are likely going to be the next scaling point. To the flip side, 1.0775 has now become support. Further down the next significant support should be 1.0725.