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AUD/NZD Consolidates Ahead Of RBNZ Decision and AU CPI

NZD
  • AUD/NZD traded in a very similar manner post the Asia session on Tuesday as it did on Monday, trying to break back above 1.0630, only to be met with quick selling. The pair hit a high of 1.0630, before reversing the move to trading back to 1.0605 at the close, well within the 100 pip range for the past week.
  • Key levels to watch include 1.0560/70 (YTD lows Feb 22/May 23, Yearly Lows) a break here could signal a move to 1.0474 (Dec 22 lows), to the upside are 1.0630 highs from Feb 26, above there 1.0650/55 (Feb 20 highs/ 20-day EMA). Currently, the 20 and 50-day EMAs are positioned at 1.0650/1.0700.
  • Looking ahead, AU CPI at 1130 AEDT and NZ RBNZ Decision at 1200 AEDT

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