April 21, 2024 22:25 GMT
AUD/NZD Hovers Near 1.0900
NZD
- AUD/NZD was 0.25% higher of Friday, breaking back above 1.0900 where it finished the week, it has opened just below at 1.0897. The pair is now also back above the 20-day EMA of 1.0884, while the 14-day RSI stayed steady and still holds above 0.50 at 58.
- Key technical levels to watch: Initial support is 1.0861 (Apr 17 low), a break here would open a move to 1.0829 (50-day EMA). A move back above 1.0900 would open a retest of 1.0920 (Apr 15/16 highs), and above here a would signal a move to recent cycle highs of 1.0958 (Apr 8 high)
- The AU-NZ 2Y swap is 1bps higher at -90bps.
- Upcoming expiries: 1.0825 ($593.43m) Apr 23th NY cut
- Looking ahead: AU CPI & NZ Trade Balance on Wednesday
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