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Coming up in the Asia-Pac Session on Monday:


Coming up in the Asia-Pac Session on Monday:


(H2) Stabilising


Bias Still Points Lower


Fading Onto Recent Gains

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AUD/NZD remains slightly heavy and last deals -4 pips at NZ$1.0636, poised to extend its current losing streak to four consecutive sessions. The kiwi outperforms its Antipodean cousin amid concerns over the new Covid-19 outbreak in NSW.

  • The kiwi may have drawn some marginal support from cross flows after NZD/USD touched its best levels since mid-2018.
  • A break below the 50-DMA at NZ$1.0612 would clear the way to the 38.2% retracement of the Dec rally/round figure at NZ$1.0603/00. Meanwhile, a recovery of the 200-DMA at NZ$1.0688 would bring Dec 25 high of NZ$1.0718 into play.
  • Implied 1-month volatility in the pair jumped this morning, rising to the highest level since early Nov.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |
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