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Firms Above $0.61 Handle, RBNZ Due Tomorrow

NZD

NZD/USD prints at $0.6100/05, the pair is ~0.1% firmer today.

  • Kiwi has ticked higher through the session, however ranges do remain narrow, as an offer in USD/JPY spills over into moderate USD weakness.
  • NZD/USD has firmed above the $0.61 handle and sits at its highest since early August.
  • Technically we are in an uptrend, bulls immediate focus is on holding above the $0.61 figure. This opens $0.6168, 61.8% retracement of Jul-Oct bear leg and $0.62 handle. On the downside bears focus on the 200-Day EMA.
  • A reminder that this morning NZ October Filled Jobs rose 0.5% M/M.
  • Looking ahead, the latest monetary policy decision from the RBNZ is due tomorrow. There is no change expected to the OCR.
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