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AUDNZD: AUD/NZD Breaks Above 1.1050

AUDNZD
New ZealandBulletAPACForeign Exchange BulletsAustraliaMarkets
  • The AUD/NZD traded 0.23% higher on Thursday, closing at session highs of 1.1080 having now broken out of recent ranges of 1.0950-1.1050.
  • Looking at technical indicators the RSI has ticked up to 58, while the MACD is printing green bars. Initial resistance is 1.1086 ( 61.8% retracement of the Nov 22 to Dec 9 move), a break here would open a move 1.1100 (Nov 27 highs). Initial support is at 1.0962 (Dec 5 lows), a break here would likely see a test of the 200-day EMA at 1.0949.
  • The AU-NZ 2yr swap spread has surged to 51bps, jumping 7bps on Thursday. We still trade just shy of the yearly highs of 58bps.
  • Later we have Australia Private Sector Credit 
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  • The AUD/NZD traded 0.23% higher on Thursday, closing at session highs of 1.1080 having now broken out of recent ranges of 1.0950-1.1050.
  • Looking at technical indicators the RSI has ticked up to 58, while the MACD is printing green bars. Initial resistance is 1.1086 ( 61.8% retracement of the Nov 22 to Dec 9 move), a break here would open a move 1.1100 (Nov 27 highs). Initial support is at 1.0962 (Dec 5 lows), a break here would likely see a test of the 200-day EMA at 1.0949.
  • The AU-NZ 2yr swap spread has surged to 51bps, jumping 7bps on Thursday. We still trade just shy of the yearly highs of 58bps.
  • Later we have Australia Private Sector Credit