FX News

AUD/NZD Transfer

The New Zealand Dollar (NZD) moved to the edge of the recent uptrend early this week against the Australian Dollar (AUD) to 0.9260 (1.0800) bouncing off the 50% Fib level before spiking into Tuesday to 0.9285 (1.0770) as the kiwi looks to extend its recent form higher. Data this week comes in the form of the Australian Jobs report with predictions the unemployment rate to rise from 3.9% to 4.0% – not enough for the RBA at this stage to consider cutting their cash rate earlier with jobs data still running hot. The NZD looks to be well supported on dips following the run higher from 0.9070 (1.1025)

Current Level: 1.0769
Resistance: 1.0850
Support: 1.0700
Last Weeks Range: 0.9231 – 0.9235

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