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AUD/NZD Continues To Edge Higher Makes New YTD Highs

NZD
  • AUD/NZD edged higher again on Tuesday, up 0.13%. The cross made new YTD highs of 1.0926, while we have opened just off those intraday highs at 1.0917
  • Key technical levels to watch: Initial resistance is now 1.0945 (Nov 11 highs), above here the round number 1.100 becomes a target. While to the downside, initial support is 1.0827 (20-day EMA), below here the 1.0770-10780 (50, 100, 200-day EMAs) area would be the next targets.
  • The AU-NZ 2Y swap is 5bp higher at -78bps.
  • Upcoming expiries: US$329.86m puts with a 1.0900-1.0935 strike for March 3rd NY cut
  • Looking ahead: Calendar is light today

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