FX News

AUD/NZD Transfer

Both central banks- the RBA and RBNZ will announce cash rates along with statements this week, both expected to widely keep rates on hold at 4.10 and 5.50% respectively. The New Zealand Dollar (NZD) has pushed up on the Australian Dollar (AUD) over the last 10 days, clearing resistance at 0.9320 (1.0730) to reach 0.9350 (1.0695) early today, a fresh high not seen since earlier in May this year. On the chart it’s thin air all the way to 0.9460 (1.0570), unless the Aussie gets a boost from somewhere this week we might continue to see more weakness in the currency.

Current Level: 1.0706
Resistance: 1.0900
Support: 1.0550
Last Weeks Range: 1.0716 – 1.0815

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