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NZD Steady Vs G10 Currencies, Yields Lower

NZD

The Kiwi is mixed today down against the AUD, while up against most other G10 currencies, the BBDXY down 0.12% at 1,260.33. NZGBs are 4-6bps lower today, otherwise it has been a quiet day in the local market.

  • NZD/USD is up 0.10% at 0.5923 having earlier fallen to an intraday low of 0.5907. The downward trend remains intact with the currency still trading below the 20, 50, 100 & 200-day EMAs, the14-day RSI is off Apr 15 lows, at 38.90. Initial support is at 0.5864 (Nov 11 lows) while initial resistant is at 0.5950 (Apr 15 highs).
  • AUD/NZD is slightly higher, up 0.11% at 1.0888, the cross is back above the 20-day EMA level of 1.0881, while the AU-NZ 2y swap has is 1.5bps higher at -91.25bps. Initial support is 1.0861 (Apr 17 low), while a break back above 1.900 would be needed to retest 1.0920 (Apr 15 highs)
  • NZD/JPY is slightly higher up 0.08% to 91.390, the cross bounced off the 100-day EMA on Tuesday, and post CPI has broken back and has held above the 20 & 50-day EMA indicating buyers are back in charge and the upward trend remains intact. The 14-day RSI indicator has also just ticked back above 50 to 52. Initial resistance is 91.60 (Apr 16 highs), while initial support is 90.60 (100-day EMA).
  • Looking ahead, Japan Tertiary Industry Index in a few hours, while JP CPI due tomorrow will be the focus in the region with little else on the calendar.
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