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Kiwi Unfazed By Auckland Heading For Alert Level 1, With Broader Dynamics In Play

NZD

NZD/USD has pulled back from session highs, in sync with a broader bout of moderation in the underlying risk-on feel, which has seen e-minis give back their earlier gains. The move occurred even as PM Ardern announced that Auckland will join the rest of the country at Covid-19 alert level 1 at midnight tonight. Moving New Zealand's biggest city from the current alert level 2 was advised by health officials. At the same time, the government will make wearing masks on public transport mandatory throughout the country, even at level 1. NZD/USD last sits at $0.7318, 19 pips better off on the day, with familiar technical levels still in play.

  • AUD/NZD has held onto losses as some of the AUD's earlier strength has also dissipated. The pair sits -10 pips at NZ$1.0772 as we type, hovering just above session lows.
  • NZD/JPY trades marginally off session highs (Y77.42), last +34 pips at Y77.30. Previously flagged technical levels remain intact.
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