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Firmer On Tuesday, 200-Day EMA In View For Bulls

NZD

NZD/USD prints at $0.6250/55, the pair was ~0.9% firmer on Tuesday.

  • The pair firmed through its 20-Day EMA yesterday as rising commodity prices, oil and metals rose, saw the Kiwi tick higher.
  • 20-Day EMA ($0.6216) then provided intra-day support in the European session and the bid continued through the NY session into the close as US Equities rallied off session lows.
  • Bulls first target a break of $0.6269 (200-Day EMA) which brings high from 14 Feb at $0.6390 in play. Bears first look to break $0.62 which has emerged as key support in recent dealing.
  • AUD/NZD was little changed yesterday and last prints at $1.0720/30.
  • Cross asset wise; BBDXY fell 0.4% printing its lowest level since early February. 10 Year US Treasury Yields rose 4bps and S&P500 fell 0.2%.
  • The domestic data calendar is empty today.
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