FX News

NZD/AUD Conversion:

Both the New Zealand Dollar (NZD) and Australian Dollar (AUD) look equally volatile in current markets with yesterday’s poor Chinese data and US Dollar outflows not really impacting this pair. Sideways trading around the 0.9050 (1.1050) area remains the theme. The upcoming RBNZ rate announcement tomorrow could shake things up, the RBNZ widely predicted to hike interest rates from 2.5% to 3.0% in efforts to bring down rising inflation. Although mostly priced in the kiwi may spike on the news- anything above 0.9000 still looks good buying.  Aussie jobs numbers prints towards the end of the week.

Current Level: 0.9060 (1.1033)
Resistance: 0.9100 (1.1170)
Support: 0.8950 (1.0990)
Last Weeks Range: 0.8989-0.9089 (1.1016-1.1124)

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