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Firms Through 200-Day EMA On Monday

NZD

NZD/USD prints at $0.6295/0.6300, the pair was ~0.6% firmer in yesterday's trading.

  • In the European session the kiwi found support below the 20-Day EMA.
  • Gains extended through the 200-Day EMA ($0.6270), as lower than expected ISM Manufacturing data weighed on the greenback.
  • Bulls target a break of the high from Feb 14 at $0.6390, from here they can target 2023 high at $0.6538. Bears first look to break the 20-Day EMA ($0.6240) to turn the tide.
  • AUD/NZD firmed yesterday, the cross was up ~0.9% yesterday. The 20-Day EMA ($1.0758) has been broken, bulls now target the 200-Day EMA ($1.0882).
  • Cross asset wise; 10 Year US Treasury Yields were ~6bps lower, DXY was ~0.4% softer. S&P500 was 0.4% firmer.
  • CoreLogic March House Prices will cross this evening. Trans-Tasman flows may dominate with the RBA's Monetary Policy Decision due today, the Bloomberg survey expects the bank to hold rates at 3.6%.
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