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Breaks 20-Day EMA, Q1 Employment On Tap

NZD

NZD/USD prints at $0.6205/10, the pair rose ~0.7% on Tuesday.

  • NZD/USD firmed through yesterday's session as concerns over the US bank industry resurfaced and US jobs data showed weakening demand for workers which weighed on the greenback.
  • The pair rose through the 20-Day EMA ($0.6190), and held above the $0.62 handle.
  • Bulls now target the 200-Day EMA ($0.6250), bears immediate attention is on the 20-Day EMA a break through here opens year to date lows at $0.6085.
  • AUD/NZD gave up all its post RBA gains, the pair was unable to sustain its break of the 20-Day EMA ($1.0774) and the $1.08 handle.
  • The RBNZ released its Financial Stability report a short time ago. The report noted that NZ is well placed to handle a higher rate environment, however noted cash flow pressures in households are growing.
  • On the wires today Q1 Employment survey will cross. The market looks for an uptick in the unemployment rate to 3.5% from 3.4%.
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