Free Trial

AUD/NZD Breaks 1.0920 Ahead Of NZ Trade Balance & AU CPI

NZD
  • AUD/NZD traded higher on Wednesday up 0.34% to 1.0934, breaking above recent resistance of 1.0920, the cross now eyes a retest of cycle highs and YtD highs of 1.0959. We continue to trade above all major EMAs, with the 14-day RSI now at 0.64, while the MACD is showing a decrease in red bars, signaling buyers are well in control. Initial resistance is 1.0958 (Apr 8 high), while a break of 1.0900 would open up a retest of monthly lows at 1.0858 (Apr 19 low)
  • The AU-NZ 2Y swap is 2bps lower at -89.5bps.
  • Upcoming expiries: 1.0100 ($200m) Apr 24th NY cut, while notable upcoming strikes include 1.0100 ($875.5m), 1.0850 ($1.12b), 1.0700 ($876.68m) for Apr 25.
  • Looking ahead: NZ Trade Balance at 8.45am and AU CPI at 11:30am AEST

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.