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Kiwi Remains In Free Fall

NZD

NZD/USD sinks through its 100-DMA & key support from Mar 5 low of $0.7100 and last trades -68 pips at $0.7094, the worst level since the last days of 2020. Bears look for further losses past Dec 21 low/23.6% retracement of the Mar 19, 2020 - Feb 24, 2021 rally at $0.7003/0.6994.

  • AUD/NZD is on a tear & has punched through multi-month highs. The pair last sits +56 pips at NZ$1.0871. Bulls would be pleased by a clearance of the 76.4% recovery of the Aug 18, 2020 - Dec 1, 2020 sell-off/Oct 8, 2020 high of NZ$1.0896/98. Bears look for a retreat under Mar 22 low of NZ$1.0782.

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