March 14, 2023 01:53 GMT
Prints Lowest Level Of 2023
AUD/NZD prints at $1.0705/10, ~0.1% softer in today's trading.
- AUD/NZD has now retraced 61.8% of the Dec-Feb bull leg.
- The cross briefly dealt below the $1.07 handle late in yesterday's session, printing a fresh YTD low at $1.0697.
- Bears now target the 76.4% retracement of the Dec-Feb bull leg ($1.0617), a break through there opens 2022 lows at $1.0471.
- Bulls target the 20-Day EMA ($1.0840) to turn the tide.
- Yield spreads are mostly skewed in NZD's favor still, with spreads sitting close to recent lows., albeit with a good degree of volatility in recent sessions.
Fig 1: AUD/NZD Daily Spot, EMA's
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