The New Zealand Dollar (NZD) showed signs early in the week of recovering off recent lows but instead carried on its downside path into Tuesday booking a new low of 0.4635 (2.1580) against the British Pound (GBP). It’s hard to see much change this week in a light calendar of data with only UK manufacturing printing Wednesday. Recent higher inflation reads should ensure the kiwi stays out of favour.
Current Level: 2.1523
Resistance: 2.1600
Support: 2.0530
Last Weeks Range: 2.1171 – 2.1529