April 16, 2024 22:31 GMT
AUD/NZD Tests 20-Day EMA Ahead Of CPI
NZD
- AUD/NZD is trading back below 1.0900, the cross now trades just above 1.0880 at 1.0881 a level we have failed to break multiple times over the past week and right on the 20-day EMA.
- Key technical levels to watch: Initial support is 1.0880 (20-day EMA), below here 1.0863 (Apr 15 low) a break here would target 1.0821 (50-day EMA). Initial resistance is at 1.0920 (Apr 15 highs) above here would open a retest of 1.0947 (Apr 10 highs).
- The AU-NZ 2Y swap is 1bps higher at -91.5bps.
- Looking ahead: Next major data release is NZ CPI and AU Westpac Leading Index
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