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NZD Higher Against All G10 Currencies

NZD
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The Kiwi is the top performing G10 currency today, up 0.15% vs the USD. Earlier New Zealand reported a fall in ANZ Consumer Confidence to 82.1 vs 86.4 in March and the RBNZ increased its foreign currency intervention capacity to NZ$20.7 billion at the end of March, up from NZ$20 billion in February.

  • NZD/USD is up 0.15% at 0.5955 and is now testing the 20-day EMA. However the longer term downward trend remains intact with the currency still trading below the 20, 50, 100 & 200-day EMAs, the 14-day RSI continues to tick up however still below 50 at 46. Initial resistance holds at 0.5959 (20-day EMA), while to the downside a break of 0.5920 (Apr 25 lows) is needed to continue the move lower.
  • AUD/NZD is down 0.10% at 1.0950 after earlier making intraday lows of 1.0940. The AU-NZ 2y swap is 2bps higher -73.75bps, while the 14-day RSI is just off recent highs at 65. A break above initial resistance at 1.1000 (round number), would be needed to test the yearly highs at 1.1056 (Jun 19th), while to the downside initial support lays at 1.0905 (20-day EMA).
  • NZD/JPY is up 0.38% at 92.92 as the yen makes fresh 34 years lows vs the USD. The cross is trading above all major EMA indictors, while the 14-day RSI indicator has also continued to move higher now sitting close to overbought territory at 67 indicating buyers are well in control. Initial support is 91.61 (20-day EMA), while initial resistance is 93.451 (Feb 23 highs) and multi-year highs.
  • Looking ahead, ANZ Business Confidence on Tuesday
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The Kiwi is the top performing G10 currency today, up 0.15% vs the USD. Earlier New Zealand reported a fall in ANZ Consumer Confidence to 82.1 vs 86.4 in March and the RBNZ increased its foreign currency intervention capacity to NZ$20.7 billion at the end of March, up from NZ$20 billion in February.

  • NZD/USD is up 0.15% at 0.5955 and is now testing the 20-day EMA. However the longer term downward trend remains intact with the currency still trading below the 20, 50, 100 & 200-day EMAs, the 14-day RSI continues to tick up however still below 50 at 46. Initial resistance holds at 0.5959 (20-day EMA), while to the downside a break of 0.5920 (Apr 25 lows) is needed to continue the move lower.
  • AUD/NZD is down 0.10% at 1.0950 after earlier making intraday lows of 1.0940. The AU-NZ 2y swap is 2bps higher -73.75bps, while the 14-day RSI is just off recent highs at 65. A break above initial resistance at 1.1000 (round number), would be needed to test the yearly highs at 1.1056 (Jun 19th), while to the downside initial support lays at 1.0905 (20-day EMA).
  • NZD/JPY is up 0.38% at 92.92 as the yen makes fresh 34 years lows vs the USD. The cross is trading above all major EMA indictors, while the 14-day RSI indicator has also continued to move higher now sitting close to overbought territory at 67 indicating buyers are well in control. Initial support is 91.61 (20-day EMA), while initial resistance is 93.451 (Feb 23 highs) and multi-year highs.
  • Looking ahead, ANZ Business Confidence on Tuesday