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AUD/NZD Edges Higher Ahead Of RBNZ, AU-NZ Swap Near Yearly Highs

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  • AUD/NZD finished Tuesday's session slightly higher, up 0.18% at 1.0942. The cross traded in a 30-pip range and closed near session's best. Today, focus is on the RBNZ, they are unlikely to be adjusting rates today but a more dovish tone from the bank is likely to send the NZD lower. The 14-day RSI ticked higher, although still sits below 50, while MACD indictor is showing decreasing red bars.
  • Looking at technicals, were tested initial resistance overnight and now hover just below 1.0946 (20-day EMA) a break above here would open a test of 1.100(round number resistance), while support now sits 1.0900/07 (round number support/50-day EMA).
  • The AU-NZ 2Y swap is 2.5bps higher at -66bps.
  • Option expiries: 1.0950 ($146.12m), 1.0850 (304.15m) May 21 NY cut, upcoming notable strikes include 1.0900 ($100m) May 23, 1.1000 ($100m) May 24, 1.0825 ($101.62m) May 24.
  • Today, RBNZ Decision & Conference
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  • AUD/NZD finished Tuesday's session slightly higher, up 0.18% at 1.0942. The cross traded in a 30-pip range and closed near session's best. Today, focus is on the RBNZ, they are unlikely to be adjusting rates today but a more dovish tone from the bank is likely to send the NZD lower. The 14-day RSI ticked higher, although still sits below 50, while MACD indictor is showing decreasing red bars.
  • Looking at technicals, were tested initial resistance overnight and now hover just below 1.0946 (20-day EMA) a break above here would open a test of 1.100(round number resistance), while support now sits 1.0900/07 (round number support/50-day EMA).
  • The AU-NZ 2Y swap is 2.5bps higher at -66bps.
  • Option expiries: 1.0950 ($146.12m), 1.0850 (304.15m) May 21 NY cut, upcoming notable strikes include 1.0900 ($100m) May 23, 1.1000 ($100m) May 24, 1.0825 ($101.62m) May 24.
  • Today, RBNZ Decision & Conference