FX News

AUD/NZD Transfer

After a week of recovering losses by the New Zealand Dollar (NZD) to 0.9235 (1.0830) Monday’s action has seen the kiwi give back gains to 0.9200 (1.0870) the AUD looking to regain momentum from early August’s 0.9320 (1.0730). Late this week we have the only tier one data- Australian employment data. Unemployment is predicted to remain around 3.7% with the change in the employed expected to rise in August, something the RBA will be cautious of, a direct correlation with higher inflation. A retest of 0.9160 (1.0920) looks the bet this week.

Current Level: 1.0865
Resistance: 1.0930
Support: 1.0750
Last Weeks Range: 1.0823 – 1.0883

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