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AUD/NZD Edges Higher Post Retail Sales Data

AUDNZD
  • AUD/NZD is edging higher as trading progresses today, nearing highs made during the US session on Wednesday to trade at 1.0668.
  • Key technical levels to watch are initial resistance at 1.0687 (Feb 28 Highs), above here opens a move to retest 1.0700 (Feb 15 Highs/January's Floor). While to the downside initial resistance is at 1.0630 (Feb 27 Highs), below there opens up a retest of 1.0600 (Feb 28 lows).
  • Australia had Retail Sales out earlier they rose at less-than-expected 1.1% m/m vs 1.5% expected in January but December was revised up 0.6pp to -2.1% m/m.
  • Looking ahead: CoreLogic House Prices & Judo Bank PMI on Friday

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