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AUD/NZD Makes New Cycle Highs, Eyes 1.1000

NZD
  • AUD/NZD has pushed higher on the back of the CPI beat, the cross has broken above recently cycle highs of 1.0958, and now trades up 0.35% at 1.0974, the 14-day RSI has ticked higher and now sits in overbought territory at 71.
  • A break above initial resistance at 1.1000 (round number), would be needed to test the yearly highs at 1.1056 (Jun 19th).
  • The AU-NZ 2Y swap is 7bps higher at -82bps.

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