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Narrow Range v USD, AUD/NZD Consolidating As RBA In View

NZD

NZD/USD prints at $0.6295/0.6300 little changed in today's trading.

  • The pair firmed through $0.63 meeting resistance at $0.6310 and paring gains to sit at current levels. A narrow 20 pip range has been respected for the session thus far.
  • AUD/NZD is also dealing in a narrow range, the pair is consolidating yesterday's gains and sits above the 20-Day EMA ($1.0758). Bulls look to target the 200-Day EMA ($1.0882).
  • Cross asset wise; E-minis are a touch softer and US Treasury Yields are a touch firmer. BBDXY sits ~0.1% firmer.
  • Trans-Tasman flows will be in focus this afternoon as the RBA's latest monetary policy decision is published. The bank is expected to hold rates at 3.6%, AUD/NZD flows may come to the fore.

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