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KIWI: The NZD has operated within a tight range in Asia-Pacific dealing.
- NZDUSD last trades at 0.7235, after a bullish key day reversal emerged after
the bounce from ahead of the 200-DMA at 0.7176. Bulls look for a close above the
21-DMA at 0.7291 to gain breathing room and above $0.7385 to target
$0.7438-0.7558 where 2018 & 2017 highs are situated. Bears still need a close
below the 200-DMA to hint at a move back to $0.6952 and then $0.6779 2017 lows.
The Bollinger base is noted at $0.7170 and is the key concern for bears.
- AUDNZD last trades at 1.0760 following the topside failure last week ahead of
the 55-WMA and key DMAs, which resulted in an aggressive sell-off and immediate
focus back on 2018 lows. Bears look for a close below NZ$1.0650 to add weight to
the case for a test of NZ$1.0458-91 where the LT rising TL off 2015 lows is
noted. Bulls now need a close above the 21-DMA to gain breathing room and above
the 55-DMA to hint at a move targeting NZ$1.1072-1.1139.
MNI London Bureau | +44 0203-865-3809 |