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AUD/NZD Holds above 1.0700, Tests Wednesdays Highs

NZD
  • AUD/NZD is holding above 1.0700, earlier testing Wednesday highs of 1.0719. The cross is now 1.35% above the February and YTD lows, largely on the back of the change in tone from the RBNZ.
  • Daily ranges have remained tight trading in just a 15 pip range, making earlier lows of 1.0705 and highs of 1.0719, while 1m Implied Vol is at lows from late 2019.
  • Key technical levels to watch initial resistance at 1.0735 (100-day EMA), above here 1.0758 (Feb 5 high). While to the downside a break back below 1.0700, could signal further weakness opening up 1.0665 (20-day EMA) and below to 1.0640 (Feb 14 low)
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  • AUD/NZD is holding above 1.0700, earlier testing Wednesday highs of 1.0719. The cross is now 1.35% above the February and YTD lows, largely on the back of the change in tone from the RBNZ.
  • Daily ranges have remained tight trading in just a 15 pip range, making earlier lows of 1.0705 and highs of 1.0719, while 1m Implied Vol is at lows from late 2019.
  • Key technical levels to watch initial resistance at 1.0735 (100-day EMA), above here 1.0758 (Feb 5 high). While to the downside a break back below 1.0700, could signal further weakness opening up 1.0665 (20-day EMA) and below to 1.0640 (Feb 14 low)