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AUD/NZD hovered either side of..........>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD hovered either side of NZ$1.0650 on Thursday, with little
in the way of catalysts to apparent to push the rate out of its recent range.
- Rate last deals at NZ$1.0654. Initial support located at yesterday's low at
NZ$1.0626, with bears ultimately needing a breach of the November 20 low at
NZ$1.0590.
- Bulls look for consolidation back above NZ$1.0700, which would allow them to
target the 21-DMA at NZ$1.0731. A break there would open up a series of recent
intraday highs between NZ$1.0747 & NZ$1.7667.
- The regional docket picks up next week, with speeches from RBA Gov. Lowe &
RBA's Kent, as well as the release of AU Q3 capex & completed construction work
data. Looking to next week's NZ docket, Q3 retail sales data, trade data &
business confidence all provide notable points of interest, in addition to the
release of the RBNZ's FSR.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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