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​AUD/NZD Fails Above 1.0900, Edges Lower As Equities Pare Gains​

NZD
  • AUD/NZD started that day higher before testing the 1.0900 twice, however was met with selling. AUD has sold off as HK/CH equities pared gains, with the pair making intraday lows of 1.0883, we trade just off those lows at 1.0886.
  • Key technical levels to watch: initial resistance is now 1.0900, a break here opens up 1.0925/35 (Sept 18/July 26 highs). While to the downside, initial support is 1.0775/80 (20 / 200-day EMA) a break below 1.0740/50 (100/50-day EMA) could signal further weakness, opening up 1.0700 (Mar 11 lows)
  • Upcoming expiries: US$202.3m put with a 1.0875 strike for March 27th NY cut.
  • Looking ahead: New Zealand Government Budget Policy Statement on Wednesday, while AU has Westpac Leading Index & CPI on Wednesday

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