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AUD/NZD Steady At 1.0857

NZD
  • The AUD/NZD ended Friday trading down 0.18% at 1.0855, we have opened a touch higher this morning at 1.0857.
  • The cross pared some of it's gains late last week, but still holds above all major moving averages, with the 14-day RSI at 54 and the MACD in positive territory.
  • Looking at technicals, initial support is 1.0847 (50-day EMA), while a break of 1.0827 (June 19 lows) would open a test of 1.0800. Resistance is 1.0900 (round number), with 1.0946 (June 22 high) the next target.
  • The AU-NZ 2Y swap is 2bp lower at -67bps.
  • Option expiries: 1.075 ($302.33m) & 1.0900 ($293.58m) June 24th, while upcoming expiries are 1.0850 ($749.86m) June 26
  • Today New Zealand Trade Balance is the focus.
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