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AUD/NZD Slips After Testing 1.100, Retail Sales Up Shortly

NZD
  • AUD/NZD traded lower on Monday down 0.08% at 1.0987, after initially trading above 1.100 for an intraday higher of 1.1013. We continue to trade above all major EMAs, with the 14-day RSI now testing 70, while the MACD is is showing increasing green bars, signaling buyers are still well in control. Initial resistance is 1.1013 (Apr 29 high), while support lays at Friday's lows of 1.0940, a break here would look to test 1.0924 (20-day EMA)
  • The AU-NZ 2Y swap is up 2.5bps at -73.25bps, we are 21bps higher over the past week.
  • Upcoming expiries: 1.1100 ($692.61m) Apr 29 NY Cut, upcoming notable strikes include 1.095 ($292.24) Apr 30
  • Looking ahead: NZ Business Confidence at 11.100am, AU Retail Sales & Private Sector Credit at 11.30am AEST
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