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NZD/USD Holds Above 0.6100, Remains Rangebound

NZD
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The Kiwi finished Friday's session up 0.36% at 0.6121, while the BBDXY finished a down 0.22% at 1,249.77 a rebound in equity indices helped bolster risk sentiment in global markets. This week the focus will be on the Budget and Building Permits data on Thursday

  • NZD/USD closed near session highs on Friday. The pair has been range bound since breaking above 0.6100 on the 15th May, and has been unable to break above 0.6150.The 14-day RSI was little changed on Friday sitting at 63, while the MACD is showing decreasing green bars.
  • Key levels to watch: Initial resistance of 0.6152 (May 22nd highs) above here we target the 0.6200/20 (round number/ March 8 high), while initial support holds at 0.6083 (May 22nd lows), a break here would target 0.6071 (200-day EMA)
  • The US-NZ 2y is 1bps lower at -20bps
  • Option expiries: no large strikes today while notable upcoming strikes are 0.6115 (196.24m) May 28, 0.6050 (200m) May 28
  • Looking ahead: calendar is empty today
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The Kiwi finished Friday's session up 0.36% at 0.6121, while the BBDXY finished a down 0.22% at 1,249.77 a rebound in equity indices helped bolster risk sentiment in global markets. This week the focus will be on the Budget and Building Permits data on Thursday

  • NZD/USD closed near session highs on Friday. The pair has been range bound since breaking above 0.6100 on the 15th May, and has been unable to break above 0.6150.The 14-day RSI was little changed on Friday sitting at 63, while the MACD is showing decreasing green bars.
  • Key levels to watch: Initial resistance of 0.6152 (May 22nd highs) above here we target the 0.6200/20 (round number/ March 8 high), while initial support holds at 0.6083 (May 22nd lows), a break here would target 0.6071 (200-day EMA)
  • The US-NZ 2y is 1bps lower at -20bps
  • Option expiries: no large strikes today while notable upcoming strikes are 0.6115 (196.24m) May 28, 0.6050 (200m) May 28
  • Looking ahead: calendar is empty today