AUDNZD currency pair recently broke through the resistance zone located between the pivotal resistance level 1.225 (which has been reversing the price from May) and the resistance trendline of the daily up channel from March.
TL;DR: Markets now price a 71.2% probability of a September RBA hike, with every cited forecaster expecting another increase and disagreeing only on timing — a relative-rate shift that lines up with AUD/NZD's breakout above 1.2283.
TL;DR: With markets already convinced the RBA is done hiking, tomorrow's New Zealand employment report matters less for whether the RBNZ turns more hawkish and more for whether the labor market stays resilient enough to keep its tightening bias intact — a dynamic already pressuring AUD/NZD lower.