NZDUSD Trades Higher Ahead Of Us Payrolls

NZDUSD has continued its move higher, after breaking out of the 0.6130/0.6145 range it held for the second half of the US Thursday trading day, to be trading at 0.6150/55 up 0.15% for the day. Highs rest at 0.6158.

• NZD/USD has been range bound in recent weeks, however we got to 0.6175 earlier this week and dips sub 0.6100 were supported through Thursday trade. Today's move higher has been aided by the positive risk appetite emanating from the equity space.
• Note the 20 and 50 day EMAs sits close to 0.6150, so if we can close above these levels later today in NY it will improve the technical backdrop.
• AUD/NZD continues to trade near 2024 lows of 1.070 however slightly off the those of this morning after better than expected PPI data (4.1% vs 3.8% prev) currently trading at 1.0717, the pair has now had three failed attempts recently to break these lows, but a fresh break below this level could see Dec lows near 1.0655 targeted, while Oct lows rest at 1.0624.