Free Trial

Supported Below $1.08, Lowest Level Since Late May

AUDNZD

AUD/NZD fell ~0.3% yesterday, after the RBA held the cash rate steady at 4.10%, printing its lowest level since late May.

  • Support was seen below $1.08, and losses were pared, the pair last prints at $1.0800/10.
  • Rate differentials, observed via 2-Year swap, have widened a touch and now sit at -103bps. In mid-June they sat at -80bps.
  • Bears look to break yesterday's low ($1.0781) to target the $1.0749 the 61.8% retracement of the May-Jun bull leg.
  • Bulls first target a break of the 200-Day EMA ($1.0849).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.