AUSSIE 10-YEAR TECHS: (M6) Dipping

The NZD/USD had a range overnight of 0.5892 - 0.5919, Asia is currently trading around 0.5910. The NZD consolidated around the pivotal 0.5900 area, lagging the AUD outperformance as risk incredibly makes new all-time highs. The pair looks to be doing some work around this crucial area, I have been skewed toward being short up here but a sustained push above this resistance and you would have to rethink that. On the day, the first support is back toward 0.5865-0.5885, and the market will be looking to see if it can get some momentum to extend above the pivotal 0.5900 area, like the AUD not something I thought we would be doing in this current environment, but price dictates everything.

• "The U.S. and Iran will likely return to Pakistan next week for a second round of peace negotiations, two senior Pakistani officials told MS NOW on Wednesday." - BBG
• Options : Closest significant option expiries for NY cut, based on DTCC data:  none. Upcoming Close Strikes : 0.5800(NZD455m April 20) - BBG
• The NZD/USD Average True Range for the last 10 Trading days: 49 Points

Fig 1: NZD/USD Spot Daily Chart

Source: MNI - Market News/Bloomberg Finance L.P

• Singapore to Sell 364-Day Bills
• Bank of Thailand to Sell 35 Bn Thb of 182-Days FRNs
• Singapore to Sell S$6 Bn 364-Day Bills
• Bank Indonesia to Sell 275-Day Bills
• Bank Indonesia to Sell 30-Day Bills
• Bank Indonesia to Sell 91-Day Bills
• Bank Indonesia to Sell 183-Day Bills
• Bank Indonesia to Sell 365-Day Bills 

source:  Bloomberg Finance LP / MNI