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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.
AUDNZD
AUD/NZD has fallen ~1.7% this week, breaking out of the recovery bull channel the cross had been in, see the chart below.
- The pair is now dealing below its key EMA's as the technical picture begins to turn.
- Bears now target $1.06, a break through here opens up 2022 lows from Dec at $1.0471.
- Bulls look for a break back above $1.08, opening up the 100-day EMA at $1.0881.
- The recent moves have come in spite of relative commodity outperformance for AUD, and may reflect profit taking ahead of key risk events today and next week after the ~4.5% rally from December lows.
- Dec Labour report from Australia is out today, while next week Q4 CPI from Australia and New Zealand is on tap on Wednesday.
Fig 1: AUD/NZD Spot Below Key EMAs
Source: Market News International (MNI)/Bloomberg
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.
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