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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUDNZD
AUD/NZD has continued to consolidate in its bear channel that it has been in since 28 Sep, with the cross trading a touch above 2022 lows printed 7 Dec.
- NZD bulls look to break the base of the channel, moving down through 2022 lows opening up a target at the 2021 low of 1.0280.
- To reverse the bearish trend, the pair will have to break the 20-day EMA at 1.0683, which sits on the bear channel resistance.
- We published a piece yesterday on the fundamentals outlook for the pair in 2023, linked here. Rate differentials continue to point to further downside in the cross, but relative commodity prices are providing some offset.
Fig 1: AUD/NZD Spot Remains In A Bear Channel
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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