NZD/USD in focus as RBNZ rate hike expected; AUD/USD awaits Q2 GDP

NZD/USD and AUD/USD are the key movers in the Asian session as traders position for a double dose of event risk. The RBNZ policy decision headlines the calendar, with markets leaning toward a rate hike as the central bank responds to firmer domestic inflation and a tighter labour market. A confirmed hike accompanied by a hawkish statement would support the kiwi, while any signal that the tightening cycle is near its end could trigger a 'sell the fact' reaction. Ahead of that, Australia releases Q2 GDP covering April, May and June, a critical read on household demand after several quarters of soft per-capita output. A stronger-than-expected print would firm RBA pricing and lift AUD/USD, while a downside miss would reinforce the case for policy patience. Technically, NZD/USD faces resistance near the 0.6000 handle with support around 0.5900; AUD/USD pivots around 0.6600 with support near 0.6540. AUD/NZD is likely to see the sharpest volatility given the competing catalysts.