FX News

NZD/AUD Transfer:

The RBA rate decision caught many market analysts by surprise. The Bank hit the ‘pause button’ on rate rises, against expectations and bowing to political pressure. The RBA Governor Lowe is under extreme pressure to keep rates low, as Australia is an extremely heavily indebted nation. Lowe is coming to the end of his appointed term and the heat is on! The softer AUD allowed the cross rate to surge towards 0.9300. US Labour market reports of a tighter than expected labour market, drove speculation of further rate rises, to come.

Current Level: 0.9292 (1.0762)
Resistance: 0.9325 (1.0725)
Support: 0.9190 (1.0880)
Last Weeks Range: 0.9240-0.9150 (1.0825-1.0930)

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