Bouncing around usual ranges the New Zealand Dollar (NZD), Australian Dollar (AUD) traded into Tuesday at 0.9190 (1.0880). Breaking below 0.9200 (1.0870) support the Aussie now eyes 0.9175 (1.0900) the late July low. Australian Retail Sales came in hot at 0.5% in July up from June’s -0.8% allowing the AUD to perk up. Looking ahead we have Australian CPI m/m which is forecast to print lower than June’s 5.4% at 5.2%, anything higher than 5.4% will be dangerous for the NZD. Buyers of AUD should consider here.
Current Level: 1.0872
Resistance: 1.0930
Support: 1.0750
Last Weeks Range: 1.0778 – 1.08712