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AUD/NZD Continues To Head Higher, Eyes A Break Of 1.0950

NZD
  • AUD/NZD edged higher heading into US session on Friday before testing the 1.0950 ceiling the pair has been trading below for the past year, the pair finished the week just below at 1.0941 up 0.06% and 0.40% for the week we opened unchanged to kick the new week off.
  • Key technical levels to watch: Initial resistance is now 1.0957 (Apr 4 highs), above here a break of 1.100 (round number resistance) would open a retest of the yearly highs at 1.1057 (June 6 highs). While to the downside, initial support is 1.0863 (20-day EMA), below here the 1.0796 (50-day EMAs) area would be the next target.
  • The AU-NZ 2Y swap is 2bps lower at -82.5bps.
  • (Bloomberg) RBNZ Shadow Board Expects OCR To Stay at 5.5% This Week (See link)
  • Upcoming expiries: $201.38m puts at a strike of 1.0925 and $100.46m calls at a strike of 1.0950
  • Looking ahead: AU Loan Values at 11.30am AEST
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