FX News

NZD/AUD (AUD/NZD) Transfer:

History in the making- the Australian Dollar (AUD) poked its head above long-term resistance at 1.1380 (0.8790) Monday reaching 1.1460 (0.8725) , the first time we have seen prices this low since November 2013. The Aussie continues to extend its dominance outperforming the kiwi 9 out of the last 10 weeks. Clearly markets still believe the Aussie is in better shape than what’s been going on in New Zealand. Looking ahead we have Governor Orr speaking Friday. As we have been saying- more of the same is in store, buyers of AUD should consider options.

Current Level: 0.8749 (1.1419)
Resistance: 0.8580 (1.1500)
Support: 0.8700 (1.1300)
Last Weeks Range: 0.8794-0.8935 (1.1191-1.1371)

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