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Lowest Level Since Mid-Oct

AUDNZD

AUD/NZD fell to its lowest level since mid October on Wednesday, resurgent US Yields on Thursday saw the AUD underperform pressuring AUD/NZD which breached the $1.08 handle.

  • In early dealing the cross is see-sawing around $1.08 in a narrow range.
  • We now sit below the 20-Day EMA ($1.0834) and the 200-Day EMA ($1.0830). Bears now target the $1.06 handle, the low from 22 May ($1.0560) and the 2022 low ($1.0471).
  • Bulls look to recover above the 20- and 200-Day EMAs to target the the high from 2 Nov ($1.0945), $1.10 handle, YTD highs ($1.1088) and high from 18 Oct 22 ($1.1207).
  • A reminder that the RBA's SoMP is due in just over one hour.
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