AUD/NZD Transfer

ByDragana My Engine Lab

The New Zealand Dollar (NZD) has rebounded lower off the 0.9160 (1.0920) high Monday to reach 0.9105 (1.0980) into Tuesday, after 3 weeks of gains the kiwi bull run could be over for the moment. We expect the AUD to continue its recovery this week with the Aussie better supported with optimism over tariff policy which supports Chinese manufacturers and trade. We think a retest of the 0.9050 (1.1050) area is on the cards. Those buying AUD should consider before a possible drop below 0.9000.

Current Level: 1.0971
Resistance: 1.1100
Support: 1.0920
Last Weeks Range: 1.0909 – 1.1009

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