AUD/NZD: Clings near multi-day highs of 1.0800 post-RBNZ FSR


  • AUD/NZD is consolidating near Thursday’s lows in the Asian session.
  • Aussie holds the ground after dismal trade data.
  • RBNZ FSR review fails to ignite the demand for the kiwi.

The Aussie depreciates initially against its counterpart and slips below the 1.0790 mark in the Asian session. The cross felt the heat around 1.0820 and took no time to take a sharp U-turn, and traveled back to the lows of 1.07736.

At the time of writing, AUD/NZD is trading at 1.0785, up 0.04% on the day.

The narrow gap in growth differentials between Australia and New Zealand continues to confide the cross in a broader trading range. Moving onto the latest Financial Stability Review (FSR) released by the Reserve Bank of New Zealand, the country’s financial system is sound but remains vulnerable to pandemic-related broader restrictions, supply chain disruptions, and social distancing affecting various businesses and their productivity on account of reduced activities. 

The market does not seem to be quite happy with the FSR, as it failed to invoke faith in the New Zealand financial system's stability. These comments are filled with concerns about the risk of overheating housing prices. Further lower global interest rates make borrowers vulnerable to a rise in mortgage rates.

For this week, investors can turn their attention to the release of Australia PMI data, Building Permits for March,  along with the New Zealand Quarterly Unemployment data, Employment change QoQ Q1, Participation rate, and Labor Cost Index. The readings will be interesting to watch as any deviations in the Australian readings will impact the cross negatively.

AUD/NZD additional levels

AUD/NZD

Overview
Today last price 1.0786
Today Daily Change 0.0004
Today Daily Change % 0.04
Today daily open 1.0782
 
Trends
Daily SMA20 1.0796
Daily SMA50 1.0795
Daily SMA100 1.0752
Daily SMA200 1.0751
 
Levels
Previous Daily High 1.0792
Previous Daily Low 1.075
Previous Weekly High 1.0809
Previous Weekly Low 1.0698
Previous Monthly High 1.0927
Previous Monthly Low 1.0698
Daily Fibonacci 38.2% 1.0776
Daily Fibonacci 61.8% 1.0766
Daily Pivot Point S1 1.0757
Daily Pivot Point S2 1.0733
Daily Pivot Point S3 1.0716
Daily Pivot Point R1 1.0799
Daily Pivot Point R2 1.0816
Daily Pivot Point R3 1.0841

 

 

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