Price has stalled just above 0.9000 in the New Zealand (NZD), Australian Dollar (AUD) pair over the past few days, camped out between 0.9000 and 0.9100, the pair awaits further drivers. This may well come in the form of NZ quarterly GDP Thursday; with predictions it could print red and drop the NZ economy into recession following -0.6% in the fourth quarter. Aussie job numbers release Thursday and should stay solid at 3.7% unemployment. Any jump could squeeze the NZD higher. Overall, it’s hard to see the kiwi back at 0.91-92 levels in the near term.
Current Level: 0.9063 (1.1024)
Resistance: 0.9140 (1.1080)
Support: 0.9025 (1.0940)
Last Weeks Range: 0.9065-0.9190 (1.0881-1.1031)