Last week’s moves were mostly about AUD strength and investors exiting the New Zealand Dollar (NZD), the pair travelling from 0.9310 (1.0740) to 0.9200 (1.0870) zones where it has consolidated into Tuesday. The RBNZ will keep their interest rate on hold at 5.5% this week after the RBA minutes release later today. Also on the radar is Chinese Industrial Production and Retail Sales printing around the same time which are expected to release below expectations and could be negative to further Aussie moves higher against the kiwi.
Current Level: 1.0863
Resistance: 1.0900
Support: 1.0720
Last Weeks Range: 1.0740 – 1.0869