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AUD/NZD Trades Through 20-Day EMA, AU Employment Data Shortly

NZD
  • AUD/NZD finished Wednesday's session down 0.31% at 1.0934, we have now comfortably broken below the 20-Day EMA a level we have been trading on for the past week, looking ahead today we have AU employment data with expectations of 23.7k new jobs, and a unemployment rate on 3.9%.
  • Looking at technicals, the 20-day EMA at 1.0957 now becomes initial resistance, while support now sits 1.0900/04 (round number support/50-day EMA)
  • The AU-NZ 2Y swap is 1bps higher at -63bps.
  • Option expiries: 1.0850 ($200m), 1.0700 (200m) May 15 NY cut.
  • Looking ahead: AU Employment data at 11:30am AEST

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