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Pressured, AUD/NZD Back Below $1.10

NZD

NZD/USD prints at $0.6310, ~0.3% softer in yesterday's trading.

  • NZD/USD rose through the European session as broad based USD weakness boosted the pair. Resistance was seen ahead of $0.6350, which came above the 50-day EMA ($0.6337).
  • Pressure came as the USD rebound off session lows, and weakness in US Equities weighed on risk sentiment. NZD/USD found support at $0.63.
  • Bulls target a close above 50-day EMA ($0.6337). Bears look to break the 100-day EMA at $0.6260.
  • AUD/NZD is now trading below $1.10 after an early rally to its highest level since early November before meeting resistance at $1.1030.
  • Cross asset flows were mixed, S&P500 fell 1.1% and DXY rose ~0.1%. US 10 Year Treasury Yields fell 5 bps.
  • The Jan ANZ Heavy Truckometer was on the wires this morning, printing at 0.8%. THe domestic data calendar is empty for the remainder of the session
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