FX News

NZD/AUD Transfer

The New Zealand Dollar (NZD), Australian Dollar (AUD) still sits in the bull trend channel this week at 0.9295 (1.0760) currently, from the low at 0.9065 (1.1030) set early May. The NZD still well supported on dips in the run up to 0.9320 however with Aussie job numbers printing better than expected we have seen more buying of the AUD over the past day or so. Any chance we had of the RBA cutting rates this year is now a pipe dream with the unemployment dipping slightly from 4.1% to 4.0% in May the Australian economy showing reliance. Next week’s RBA cash rate will remain at 4.35%- a non-event. Technically we pick the cross to retest the fib area at 0.9260 (1.0800) early next week.

The current interbank midrate is: NZDAUD 0.9280 AUDNZD 1.0771

The interbank range this week has been: NZDAUD 0.9266- 0.9318 AUDNZD 1.0731- 1.0796



Previous ArticleNext Article