Risk sentiment pushed the New Zealand Dollar (NZD) lower Monday to 0.4740 (2.1090) against the British Pound (GBP), the latest dip could have been a whole lot worse with the escalation in the Middle East not as bad as first feared. Both NZ and UK inflation releases tomorrow with expectation of a tick lower in both the UK figure and NZ prints. We expect a retest of the support zone around 0.4725 (2.1170) the September 2023 low.
Current Level: 2.1088
Resistance: 2.1170
Support: 2.0900
Last Weeks Range: 2.0856- 2.1033