The NZD leads the way again on the day
In yesterday's trading, the kiwi led the charge into the US session and despite stocks ending the day near the lows, it held onto gains and finished as the second best performing currency - only behind the loonie.
It's more of the same today for the kiwi as it is once again in the driver's seat as risk assets are receiving a boost following China president Xi Jinping's speech earlier.
For NZD/USD, the pair looks set to test the 13 March highs at 0.7355. That will be the key resistance level to look out after the pair cleared the 0.7300 handle yesterday. If the resistance level fails to hold, a retest of the 0.7438 is all but a shoe-in.
The next key risk event for the pair will be the US CPI report tomorrow, followed by the FOMC meeting minutes. It will all be on the dollar side of the equation in terms of planned risk events. For the kiwi, it will depend on risk sentiment and the trade wars rhetoric.
Meanwhile, for AUD/NZD the pair has turned back lower after failing to get above the resistance level set by the June highs from last year. And as pointed out earlier, failure to get above that would mean the pair is set for a test of the multi-year support level.
