Surprisingly the Australian Dollar (AUD) continues to give back gains early this week extending moves to 0.9250 (1.0815) where it looks to have settled. Sliding commodities and the latest global sentiment read has benefited the AUD more favourably. If the RBA hikes next week this could change things up. Focus this week will be on Australian CPI data, moves over the week could well be dictated by this pending print. A release higher from the current 6.8% y/y will no doubt deflect more investors away from the NZD.
Current Level: 0.9224 (1.0830)
Resistance: 0.9440 (1.1020)
Support: 0.9075 (1.0590)
Last Weeks Range: 0.9048-0.9207 (1.0861-1.1051)