March 21, 2023 21:20 GMT
Pressured, AUD/NZD Meets Resistance at $1.08
NZD/USD prints at $0.6190/95, the pair fell ~0.9% yesterday.
- The pair was pressured through Tuesday's session as rising US Yields and technical flows after a break of the 20-Day EMA weighed.
- A rally in US Equities into the close aided a bounce in NZD/USD off session lows, firming ~0.4% having found support at $0.6170.
- Bears now target a break of 2023 lows at $0.6085, from there they can target a break below $0.60 round number support. Bulls first look to break the 20-Day EMA at $0.6273.
- AUD/NZD continues to consolidate above $1.07 handle. The cross met resistance ahead of the $1.08 handle yesterday, and last prints at $1.0760/70.
- On the wires this morning Q1 Westpac Consumer Confidence printed at 77.7 maringally rising from all time lows seen in Q4 2022.
- Cross asset flows were mixed, 2-Year US Treasury Yields were ~19bps firmer. S&P500 rose 1.3%, BBDXY was little changed.
- The domestic data calendar is empty today