January 25, 2023 21:21 GMT
Pressured, Us Equities Aid Recovery From Session Lows
NZD/USD prints at $0.6480, ~0.4% softer in yesterday's trading.
- The pair was pressured through the European session as fallout from yesterday's domestic inflation print and softer than expected German data saw the greenback on the front foot, however recent ranges were respected with support coming below $0.6460.
- A rally in US Equities off their session lows, saw NZD/USD firm through the NY session, paring losses to deal at current levels.
- AUD/NZD has closed above its 200-Day EMA, printing its highest level since mid-November.
- Cross asset flows were mixed; DXY was ~0.3% softer and S&P500 was little changed albeit after opening down ~0.9%. US 10 Year Treasury Yields were little changed.
- Bears first look to target 20-day EMA and round number resistance at $0.64. Bulls look to sustain a break above $0.6530 to re-establish their momentum.
- The domestic data calendar is empty. Wider regional liquidity will be affected today with both China and Australia markets closed due to the observance of national holidays.