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AUD/NZD touched pullback lows of........>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD touched pullback lows of NZ$1.0860 on Wednesday (which now
represents support), in the wake of the NZ ANZ Business Confidence release,
before immediately paring the bulk of its losses, trading either side of
NZ$1.0900 during EU & NY trade. The pair ultimately closed below its 100-DMA
(NZ$1.0900), and printed a low of NZ$1.0876 on the back of the latest RBNZ
MonPol decision, last NZ$1.0895.
- The close below the 100-DMA resumes the recent downtrend with bears focusing
on a break of the September 03 low (NZ$1.0851), below here opens the 200-DMA &
the 50% retracement of the 2018 range (NZ$1.0837/32). Bulls initially need to
clear NZ$1.0900, followed by support turned resistance (NZ$1.0932).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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