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AUD/NZD Firmer, Tests Monthly Highs Of 1.0747

NZD
  • AUD/NZD has pushed higher since tapping 1.0700 on Monday, trading up 0.19% on Tuesday to 1.0740. As trading gets underway in Asia the cross is testing highs made on May 8th of 1.0747.
  • Key technical levels to watch initial resistance at 1.0747 (Mar 8 high), above here 1.0773 (200-day EMA). While to the downside a break back below 1.0704 (50-day EMA), could signal further weakness opening up 1.0692 (20-day EMA) and below to 1.0640 (Feb 14 low)
  • Earlier NZ released Food Prices data showing a fall of 0.6% for Feb, while AU released Household spending showing a fall of 0.3% for Feb.
  • Looking ahead: NZ has Reinz House Sales out tomorrow, while AU is quiet until RBA next Tuesday

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