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NZD/USD Hits Fresh Monthly Highs, AUD/NZD Cross Eyeing 200-Day MA

NZD

NZD/USD is the clear front runner in the G10 space, now up close to 0.75% versus NY closing levels. The pair is running into some resistance above 0.5870 (high of 0.5873), but we are at fresh highs back to late September. We are also above the 50-day EMA at 0.5855, while the 100-day EMA comes in at 0.6034.

  • Similar factors from earlier appear to still be in play, US equity futures away from worst levels, slightly lower UST yields etc. However, these factors don't appear to have changed much in this latest run higher in NZD.
  • Cross AUD/NZD sales may also be aiding the Kiwi. The cross is back to the 1.1025 level, down 0.40% for the session. These levels are near recent lows from the start of the week, while the simple 200-day MA comes in at 1.0999.
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