NZD/USD daily chart
The antipodeans are the ones doing some work to start the new week, with AUD/USD testing waters near 0.6600 now and eyeing a stronger technical break as seen here. And NZD/USD is also facing a somewhat similar scenario as it runs up against its own 200-day moving average (blue line) at 0.6090 today.
The key level is still holding back price action for now but a firm break above that will allow for buyers to sail past 0.6100 in search of a potential return towards the April, May, and July highs. There’s not much resistance stopping the pair from doing so after a break of the key level highlighted above.
For today, the aussie and kiwi strength comes despite more tepid risk sentiment in broader markets. Equities are sitting slightly lower but that’s not hindering traders from going in search of a technical break. And that says a lot about the current momentum in both AUD/USD and NZD/USD as we head into November month-end.
