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AUD/NZD Reverses Monday's Move Higher, Holds Below 1.0600

NZD
  • AUD/NZD benefitted from the weaker NZD on Monday. The pair hit a high of 1.0634, still well within the 100 pips range traded last week before reversing that move, trading back to 1.0595, hovering near bottom of the yearly range. Key levels to watch include 1.0560/70 (YTD lows Feb 22/May 23, Yearly Lows) a break here could signal a move to 1.0474 (Dec 22 lows), to the upside are 1.0612 highs from Feb 22, above there 1.0650/55 (Feb 20 highs/ 20-day EMA). Currently, the 20 and 50-day EMAs are positioned at 1.0655/1.0705.
  • •Looking Ahead - NZ RBNZ OCR and AU CPI on Wednesday

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