The New Zealand Dollar (NZD) extended moves higher Monday against the Australian Dollar (AUD) to 0.9090 (1.1000) the 3rd week straight from 0.8950 (1.1170) the kiwi has outperformed. NZ Manufacturing climbed from -1.2% in the 3rd quarter to 1.1% in the 4th quarter helping to improve the NZD. Technically we need to see a break above 0.9090 (1.1000) before further upside is possible. With no economic data due this week we suspect further range bound trading will be the theme.
Current Level: 1.1020
Resistance: 1.1100
Support: 1.1000
Last Weeks Range: 1.0975 – 1.1105