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AUD/NZD Back Above 1.0900, NZ CPI On Wednesday

NZD
  • AUD/NZD is trading back above 1.0900, the cross tested 1.0920 multiple times on Monday but was unable to sustain a break above, we currently trade at 1.0913
  • Key technical levels to watch: Initial support is 1.0900 (round number support), below here 1.0863 (Apr 15 low) a break here would target 1.0820 (50-day EMA). Initial resistance is at 1.0920 (Apr 15 highs) above here would open a retest of 1.0947 (Apr 10 highs), a break here would target 1.0957 (Apr 8 highs).
  • The AU-NZ 2Y swap is 2bps higher at -92bps.
  • Looking ahead: Next major data release is NZ CPI and AU Westpac Leading Index on Wednesday

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