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Narrow Ranges In Asia

NZD

NZD/USD prints at $0.5925/30, the pair is marginally lower than opening levels.

  • Narrow ranges have persisted thus far on Friday, NZD/USD has observed a $0.5920/40 range for the most part.
  • The pair still remains in a downtrend; Bears look to break $0.5859 (6 Sep low) which opens $0.5757 (low from 4 Nov 22) and $0.5728 a Fibonacci projection.
  • Bulls focus is on a break of yesterday's high ($0.5985), which opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6138).
  • AUD/NZD is a touch firmer, however the cross remains below the 200-Day EMA for now.
  • The August Trade Balance printed at a deficit of $2.291bn, as imports rose and exports fell in the month.
  • Wider swings in risk sentiment will be the main driver in NZD today.

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