The New Zealand Dollar (NZD) extended last week’s push higher against the Australian Dollar (AUD) to 0.9295 (1.0760) clocking a fresh 7 week high in the pair. The breakout from the bear channel through 0.9210 (1.0860) made for a much larger correction move by the kiwi. Resistance is seen at 0.9320 (1.0730) the May high which we expect to hold over the week.
Current Level: 1.0759
Resistance: 1.0900
Support: 1.0720
Last Weeks Range: 1.0787 – 1.0905