FOREX: Kiwi Pressured, Narrow Ranges Elsewhere In G-10
Oct-17 00:16By: Brendan McKeating
The Kiwi has been pressured in early dealing on Tuesday after the Q3 CPI came in below expectations. NZD/USD is down ~0.4% and sits a touch above the $0.59 handle. Technically we remain in a downtrend, bears look to break the YTD low at $0.5860. AUD/NZD is ~0.4% firmer, bulls now target a move above the $1.08 handle and 200-Day EMA ($1.0822).
- Elsewhere in G-10, AUD is unchanged from Monday's closing levels. AUD/USD prints at $0.6340/45. The trend remains bearish, support comes in at $0.6286 the low from Oct 13 and bear trigger. Resistance is at the high from Oct 11 $0.6445.
- Yen is a touch softer however ranges have been narrow thus far. Resistance in USD/JPY remains at ¥150.16, Oct 3 high and bull trigger. Support is at the 20-Day EMA (¥148.74).
- Elsewhere EUR and GBP are a touch softer and BBDXY is marginally firmer.
- At the bottom of the hour the minutes of the RBA's October policy meeting cross.
