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AUD/NZD Unable to Break 1.0950, Nomura Exits Long Ahead Of RBNZ Decision

NZD
  • AUD/NZD finished the session down 0.10% at 1.0938, ending a run of 6 straight days of gains. The pair has been met with sellers at the 1.0950 area, this has been the ceiling for the past year, able to only break above it briefly in June.
  • Key technical levels to watch: Initial resistance 1.0957 (Apr 4 highs), above here a break of 1.100 (round number resistance) would open a retest of the yearly highs at 1.1057 (June 6 highs). While to the downside, initial support is 1.0877 (20-day EMA), below here the 1.0807 (50-day EMAs) area would be the next target.
  • The AU-NZ 2Y swap is 4.5bps lower at -88.25bps.
  • (Bloomberg) Nomura Exits AUD/NZD Long Before RBNZ, Sees Pair Near Fair Value (see link)
  • Upcoming expiries: $201.38m puts at a strike of 1.0925 and $100.46m calls at a strike of 1.0950 for Apr 9 NY cut.
  • Looking ahead: RBNZ rate decision at 12.00 AEST.

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