Free Trial

Highest Since August, 200-Day EMA In View

NZD

NZD/USD prints at $0.6050/55, the pair is ~0.3% firmer this morning.

  • Kiwi has firmed after the PBOC fixed the Yuan stronger than market expectations, which has spillover over into wider USD weakness in Asia.
  • NZD/USD has printed its highest level since mid-August as the pair looks to test the 200-Day EMA ($0.6063).
  • Bulls look to break the 200-Day EMA to target the high from 8 Aug ($0.6118) and the $0.62 handle. On the downside bears focus on recovering below the $0.60 handle to target the 20-Day EMA ($0.5950).
  • NZ Tsy noted in their fortnightly economic update that domestic data points to a cooling economy.
  • Wider swings in risk sentiment will be the main driver in NZD on Tuesday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.