The Australian Dollar (AUD) rallied back from 1.0800 (0.9260) levels Monday against the New Zealand Dollar (NZD) reaching 1.0850 (0.9215) late in the day before falling back towards 1.0820 (0.9240) heading into Tuesday. One would imagine a little jostling in the markets ahead of the RBNZ rate decision tomorrow could be the culprit with the central bank predicted to retain rates at 5.50%. Comments from the governor will be key around the outlook and when cuts in 2024 will happen. On the chart we are still well within recent ranges between 0.9100- 0.9300 and see no change from this over the following days.
Current Level: 1.0829
Resistance: 1.0990
Support: 1.0600
Last Weeks Range: 1.0804 – 1.0886