The RBNZ are in hiking mode and the RBA Governor seems to be suggesting that there is more chance of Australian rates going down rather than up! This is a big change in emphasis.
Many macro players had been trying to build longs in the AUD/NZD, if market chatter is to be believed, but I bet any long positions out there are getting a bit nervy!
The next level to watch is a previous daily low at 1.0647.