A light calendar week in the Australian Dollar (AUD), New Zealand Dollar (NZD) cross has seen the pair stretch out Monday continuing last week’s move higher through 0.9400 (1.0640), posting 0.9415 (1.0620) this morning. RBNZ rate cut predictions seem to be a hot talking point with analysts uncertain of upcoming timing, we have seen reports range from June to November. The RBA minutes highlighted Governor Bullock is undecided on whether the RBA will hike or cut at the next policy meeting. NZ Retail Sales Friday could print worse than expected putting pressure on the kiwi.
Current Level: 1.0632
Resistance: 1.0800
Support: 1.0580
Last Weeks Range: 1.0586- 1.0701