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USDCAD TECHS

Fresh Lows Below 1.2062

AUDUSD TECHS

Extends This Week's Gains

JGB TECHS

(M1) Consolidating

EURJPY TECHS

Upside Extension Within Its Channel

US TSYS SUMMARY

Narrow Range Ahead April FOMC Minutes

Extends Bullish Run

AUSSIE-KIWI

AUD/NZD continues to gain altitude, as the Kiwi has landed at the bottom of the G10 table. The NZD remains fragile, owing to the familiar combination of domestic MonPol dynamics & resurgence of Covid-19. Further gains have been prevented by AUD weakness vs. its other G10 peers, perhaps linked to a slip in oil prices and/or the RBA's remark that economic recovery will be slower than expected. The rate trades comfortably above the psychological NZ$1.1000 level breached yesterday, it topped out at NZ$1.1038 and last deals +30 pips at NZ$1.1031.

  • Bulls look for a rally above the upper 3.0% Bollinger band at NZ$1.1112, which would turn focus to the 2018 high of NZ$1.1176. Bears need a pullback under the NZ$1.1000 figure, before targeting Jun 2 high of NZ$1.0881.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com