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AUD/NZD Back Below 1.0900, BusinessNZ PMI Shortly

NZD
  • AUD/NZD finished the session unchanged at 1.0902, spending most of the day below 1.0900, before the rally in equities pushed it to a high of 1.0910. As trading on friday gets underway the pair is back below 1.0900 at 1.0894 ahead of NZ BusinessNZ PMI, Food prices and Card Spending data.
  • Key technical levels to watch: Initial support is 1.0878 (20-day EMA), below here 1.0836 (Mar 25 low) a break here would target 1.0813 (50-day EMA). Initial resistance lays at 1.0947 (Apr 10 highs), a break here would target 1.0957 (Apr 8 highs), while a further move higher would bring 1.100 (round number resistance) into play.
  • The AU-NZ 2Y swap is 1bps higher at -88.25bps.
  • Looking ahead: BusinessNZ Manufacturing PMI at 8.30am AEST, Food Prices & Card Spending at 8.45am AEST

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