The cross rate had reached highs of 0.9450, in February, leading into the latest RBNZ Rate Decision. The NZ Central Bank’s ‘dovish’ stance has allowed the cross rate to drift off recent highs, to trade back to 0.9350. The cross rate was softer due to the RBNZ dovish sentiment, but markets will be watching the Australian GDP growth number for direction, set to be released this Wednesday.
Current Level: 1.0670
Resistance: 1.0800
Support: 1.0580
Last Weeks Range: 1.0590- 1.066