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Recovers As 20-day EMA Provides Support

NZD

NZD/USD prints at $0.6345/50, ~0.5% firmer in today's dealing, and now only JPY is a better performer in G-10 space at the margins.

  • Support came in for the pair below the 20-day EMA at $0.6313, the pair rallied ~1% from trough to peak before meeting resistance above $0.6360.
  • Cross asset flows came to the fore as the Hang Sang recovered from early losses to trade firmer, spilling over into a bid in e-minis weighing on the USD.
  • Bulls target a break of $0.64, opening up the Dec high at $0.6514.

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