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NZD Leads G10 Currencies Gains, AUD/NZD nearing Initial Support

NZD

NZD has been the top performer of the G10 currencies as trading gets underway this week, up 0.28%, with the BBDXY trading down 0.08%.

  • NZDUSD pushed higher after a slow start this morning and has held onto most of those gains as we head into the afternoon session, the pair was last 0.6140, which is marginally above Friday highs and towards the top the monthly range. The 0.6150/55 level has been the barrier over the last month, a break above there could signal a test of the intraday highs from Jan 31 of 0.6174. While we trade above the 20 and 50-day EMAs of 0.6120/6135.
  • AUDNZD has trended lower today trading at 1.0655, just above support of 1.0650 a break below here could open up a move lower and retest of yearly lows at 1.0600. Currently, the 20 and 50-day EMAs are positioned at 1.0695/1.0735.
  • RBNZ Governor Adrian Orr will speak to a Business Canterbury lunch on Friday 1 March 2024, in Christchurch, at 1.05pm. This comes 2 days after the RBNZ's policy announcement (28th of Feb)
  • Tomorrow, the local calendar is empty, ahead of PPI data on Wednesday.
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