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Holding Above 200-Day EMA

AUDNZD

AUD/NZD has firmed ~1% off June lows seen on Wednesday, the pair has broken above the 200-Day EMA ($1.0851) and sits a touch above the $1.0909 handle.

  • The pair rose ~0.3% yesterday as the impact of firmer than expected AU Retail Sales linger and last prints at $1.0905/15.
  • Bulls target a break of the $1.10 handle which opens the high from 19 June $1.1056.
  • Bears immediate focus is on the 200-Day EMA at $1.0851.
  • Rate differentials, observed via 2-Year Swaps, have ticked wider and sit at -102bps.
  • On the wires this morning Private Sector Credit from Australia crosses, a rise of 0.4% M/M is expected.

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