Free Trial

AUD/NZD has added a handful of pips.....>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has added a handful of pips and last deals at NZ$1.0452 in
early Asia-Pac trade.
- The pair added almost 40 pips Wednesday, while kiwi finished at the bottom of
the G10 pile, as AUD managed to draw some support from yuan strength, triggered
by BBG reports stating that the U.S. demands "yuan stability" as part of any
Sino-U.S. trade deal, while NZD failed to benefit from the story.
- The initial bullish focus falls on the NZ$1.0473-NZ$1.0511 area, which hosts
three key DMAs. A move through the 21-DMA, 55-DMA and 50-DMA at NZ$1.0473,
NZ$1.0510 and NZ$1.0511 respectively would allow NZD bulls to garner some upside
impetus. Conversely, bears need a fall below NZ$1.0402, where the pair bottomed
Wednesday, ahead of the Tuesday's low at NZ$1.0390.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.