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AUD/NZD Steady, Eyes 1.0900 Ahead Of Retail Sales

NZD
  • AUD/NZD traded sideways on Wednesday. The pair tested the 1.0865 area twice post the Asian session, before closing at 1.0883. We currently trade at 1.0882 ahead of NZ Business Confidence and AU Retail Sales & Private Sector Credit
  • Key technical levels to watch initial resistance is now 1.0900, a break here opens up 1.0925/35 (Sept 18/July 26 highs). While to the downside, initial support is 1.0798 (20-day EMA) a break below 1.0755 (50/100-day EMA) could signal further weakness, opening up 1.0700 (Mar 11 lows)
  • The AU-NZ 2Y swap is 1bp higher -84.25bps.
  • Upcoming expiries: US$202.3m put with a 1.0875 strike for March 27th NY cut, US$100.83m call with a 1.091 strike for March 28th NY cut.
  • Looking ahead: NZ Business Confidence at 11.00am AEST, AU Retail Sales & Private Sector Credit at 11.30am AEST
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  • AUD/NZD traded sideways on Wednesday. The pair tested the 1.0865 area twice post the Asian session, before closing at 1.0883. We currently trade at 1.0882 ahead of NZ Business Confidence and AU Retail Sales & Private Sector Credit
  • Key technical levels to watch initial resistance is now 1.0900, a break here opens up 1.0925/35 (Sept 18/July 26 highs). While to the downside, initial support is 1.0798 (20-day EMA) a break below 1.0755 (50/100-day EMA) could signal further weakness, opening up 1.0700 (Mar 11 lows)
  • The AU-NZ 2Y swap is 1bp higher -84.25bps.
  • Upcoming expiries: US$202.3m put with a 1.0875 strike for March 27th NY cut, US$100.83m call with a 1.091 strike for March 28th NY cut.
  • Looking ahead: NZ Business Confidence at 11.00am AEST, AU Retail Sales & Private Sector Credit at 11.30am AEST