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See-Sawing Around 200-Day EMA, Australia Q3 CPI Headlines Docket

AUDNZD

AUD/NZD has see-sawed around the 200-Day EMA ($1.0823) in recent dealing after firming above the measure on Thursday last week. Ranges have been narrow with a $1.0800/50 range persisting for the most part last week.

  • In early dealing on Monday we last print at $1.0835/40.
  • Bulls now target $1.0923, the high from 18 Sep and the $1.10 handle. A break through here opens YTD highs ($1.1088) and high from 18 Oct 22 ($1.1207).
  • On the downside bears look to hold below the $1.08 handle to target the 20-Day EMA ($1.0760). A break below here opens the $1.06 handle, the low from 22 May ($1.0560) and the 2022 low ($1.0471).
  • Rate differentials, observed via 2-Year Swaps, are steady sitting at -122bps.
  • The highlight of the Antipodean docket this week is Wednesday's Q3 CPI from Australia which is expected to tick lower to 5.3% Y/Y from 6.0%.
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