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Narrow Ranges On Monday, Local Docket Empty Today

NZD

NZD/USD prints at $0.5965/70, the pair rose ~0.1% yesterday.

  • Kiwi observed narrow ranges yesterday with little follow through on moves in a relatively muted session on Monday.
  • A $0.5950/70 range persisted for the most part with support coming in ahead of the 20-Day EMA ($0.5939) early in the European session.
  • Bulls focus is on a break of Sep 22 high ($0.5989), which opens the high from 10 Aug ($0.6118) and the 200-Day EMA ($0.6132). Bear immediate focus is on the 20-Day EMA, a break through here opens low from Sep 21 ($0.5896) and $0.5859 (6 Sep low).
  • AUD/NZD sits at it's lowest level since early August, as the pair consolidates below $1.08.
  • Cross asset wise; 10 Year US Tsy Yields printed a fresh cycle high rising ~10bps. E-minis were ~0.4% rise and BBDXY was up ~0.4%.
  • The local docket is empty until Thursday when the Sep ANZ Business Survey crosses.
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