The 2024 average rate in the NZD/AUD cross is 0.9174.
With the Australian Dollar (AUD) underperforming over the week partly due to prospects of a US/China trade war the New Zealand Dollar (NZD) has clawed back gains to 0.9090 (1.1000) this morning. NZ Current Account third quarter came in light and tomorrow’s GDP 3rd quarter is likely to show a contraction of -0.2% putting the economy back into recession. This doesn’t bode well for the NZD with a looming 50/75 point cut in February prices in the pair look way overvalued above 0.9000.
Current Level: 1.0999
Resistance: 1.1080
Support: 1.0930
Last Weeks Range: 1.0933 – 1.1056