🚧Short Squeeze Update: AUD/NZD

• Spot AUD/NZD trades back below 1.0550, pulls back to the 100DMA from ticks above 1.06 seen in previous sessions

• We noted in previous weeks how IMM non-commercial positioning had met extended levels in the cross (NZD net long, AUD net short by more than 1-standard deviation vs. 5-year history)

• The aussie-kiwi spot is 300+ pips up from its lows seen in September (<1.0280)