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AUD/NZD Breaks Above the 200-Day EMA Eyes 1.0800, Focus On RBA Meeting

NZD
  • AUD/NZD continued to trade higher on Friday, breaking above the 200-day EMA to make a new monthly highs of 1.0788 before closing the week at 1.0779,
  • Key technical levels to watch: a break above initial resistance of 1.0800 would open up a retest of 1.0833 (YTD/Jan 23 high). While to the downside, a break back below 1.0736 (100-day EMA) could signal further weakness, opening up 1.0700 (Mar 11 lows)
  • Looking ahead: Australia has the RBA decision on Tuesday, while NZ has GDP on Wednesday

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