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NZD/USD Holding Above 0.6100, AUD/NZD Breaks Lower

NZD

Carry over from stronger than expected NZ employment numbers aided NZD outperformance on Wednesday. FX volatility was low and the currency held in a tight 0.6100/6120 range throughout the day yesterday, there were attempts during the European session to break 0.6100 but these were quickly met with buyers. NZD trades higher by 0.18% for the day, while 0.69% higher this week.

  • NZDUSD, remained in a tight trading range post Asia trading on Wednesday while holding above 0.6100, any moves back towards the 0.6100 level were quickly met with buyers and volatility remained low as expected with little in the way of data, the 20 and 50 day EMA comfortably sit above spot in the 0.6125/6140 range and could be a target if US Job Claims numbers out tonight miss expectations.
  • AUDNZD has continued to trend lower and made a clear break of the 1.070 level now down 0.30% to 1.0667, the break below 1.070 could signal a move to the Dec lows of 1.065 or the October lows of 1.0624.
  • Light on for NZ data for the next week, we do have NZ bond auctions later today though.
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