The New Zealand Dollar (NZD), Australian Dollar (AUD) cross has been teetering just above the 0.9000 (1.1110) level for several days now after coming from the 0.9210 (1.0860) zone a fortnight back. We still believe price will drop into the 80’s with the AUD generally in better shape. Aussie Jobs data should reflect 4.2% unemployment (no change) from September when it prints Thursday with more jobs created. Now that markets have got past the Chinese stimulus debacle we may see more buying into AUD.
Current Level: 1.1045
Resistance: 1.1150
Support: 1.1020
Last Weeks Range: 1.0981 – 1.1090