The New Zealand Dollar (NZD) clocked 0.5700 (1.7550) prior to the weekly close against the Euro (EUR) , a 2-month late July high in the pair. After a breakout past 0.5650 (1.7690) mid last week price could extend further to the topside and retest the 0.5740 (1.7430) area this week if the RBNZ Wednesday is hawkish. The RBNZ cash rate will remain at 5.5% for now but may signal intentions to policy going forward.
Current Level: 0.5668
Support: 0.5750
Resistance: 0.5435
Last week’s range: 0.5584 – 0.5700