Little Changed On Tuesday

NZD/USD print at $0.5840/45, the pair finished dealing little changed on Tuesday.

• The Kiwi ticked away from late Asia highs through the European session as an offer in EUR/USD, after weaker than forecast PMIs, spilled over into wider USD strength. The greenback extended gains as flash US PMIs were firmer than expected.
• NZD/USD fell ~0.7% from peak to trough before a recovery into the close alongside strength in US equities saw the pair finish the day little changed from opening levels.
• Downside support comes in at $0.5808, low from 23 Oct, the $0.58 handle and $0.5665 a Fibonacci projection. Bulls look to break the high from 24 OCt ($0.5873) to target the 20-Day EMA ($0.5901) and the high from 11 Oct ($0.6056).
• AUD/NZD firmed to it's highest level since 19 Sep, resistance was seen ahead of the $1.09 handle.
• Cross asset wise; S&P500 rose ~0.7% and BBDXY was ~0.3% firmer. 2 Year US Tsy Yields rose 6bps.
• The local docket is empty today, across the Tasman the Q3 CPI report from Australia crosses and may spillover into the Kiwi via AUD/NZD flows.