The Australian Dollar (AUD) made gains on the New Zealand Dollar (NZD) last week closing up around ¾ of a percent. The Aussie supported by a range of positive data- The Chinese RMB, rises in precious metals and resources prices including iron Ore rise to 134.50. Last week’s stubborn unemployment at 3.7% and recent interest hike to 4.35% are keeping the Aussie bid. Today’s RBA minutes from the 7th of Nov meeting will be keenly followed as investors look for further clues around forward guidance. 0.9180 (1.0890) has held earlier today with the kiwi looking to recover losses as I write.
Current Level: 0.9201
Resistance: 0.9390
Support: 0.9130
Last Weeks Range: 0.9190 – 0.9283