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AUD/NZD Closes the Week Above 1.0700

NZD
  • AUD/NZD pushed higher post the Asian session on Friday, the cross made new monthly highs of 1.0747, before slightly weakening into the close finishing the week 0.41% higher and closing above the 1.0700 level.
  • Key technical levels to watch initial resistance at 1.0747 (Mar 8 high), above here 1.0773 (200-day EMA). While to the downside a break back below 1.0700 (50-day EMA), could signal further weakness opening up 1.0681 (20-day EMA) and below to 1.0640 (Feb 14 low)
  • Option expiries, there are US$302m of calls/puts expiring at a strike of 1.0700 March 11th at the NY Cut
  • Calendar is light for both AU and NZ today, focused will be on the President Xi closing remarks at the NPC meeting Today

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