The New Zealand Dollar (NZD), Australian Dollar (AUD) extended moves Monday reaching 0.9410 (1.0625) before easing back to 0.9395 (1.0640) into Tuesday. The kiwi continues to be well supported as the “carry trade” wins out, the NZD a more attractive buy based on cash rate return. This week’s data releases is slim pickings with only Australian Business Confidence publishing. A retest of resistance seen at 0.9460 looks a chance depending on next week’s key employment and CPI publishing.
Current Level: 1.0642
Resistance: 1.0900
Support: 1.0554
Last Weeks Range: 1.0648 – 1.0742