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(Z1) Corrective Bounce


JPY Goes Offered, TRY Plunges To Record Low


Fresh Cycle Highs


Off Friday's Highs


Mundane Liquidity Enhancement Auction

KIWI: NZD continues to operate on the back foot after posting a string of
negative sessions. NZDUSD trades 10 pips or so softer at 0.7110, while AUDNZD is
10 pips higher at ~1.0690.
- NZDUSD's sell-off from 0.7395 has found a degree of support around the daily
bull channel base off 2017 lows for now (0.7103 today). Bears now look for a
close below the January 03 & 04 low (0.7071) to confirm a move lower. Bulls need
a close above hourly support from April 23 (0.7145) to gain breathing room.
- AUDNZD's bounce from recent 2018 & 9-month lows confirmed the significance of
the long term rising daily trend line off 2015 lows (1.0477 today) with the
close above the 55-DMA (1.0670) shifting focus higher. The cross is sitting kust
shy of the 21-WMA (1.0694) with the next level of upside interest noted at the
high from March 22 (1.0762).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |