FX News

NZD/GBP Transfer

The British Pound (GBP) rallied back Monday to 2.0560 (0.4865) against the New Zealand Dollar (NZD) after trading around the 2.0400 (0.4900) areas late in the week. Clearing the 50-day moving average at 2.0510 (0.4875) we see further upside to come for the GBP. Tomorrow’s RBNZ meeting should reflect a “hold” on interest rates at 5.50% which could bring about further selling in the kiwi. We have nothing on the UK calendar this week.

Current Level: 0.4863
Resistance: 0.4900
Support: 0.4840
Last Weeks Range: 0.4859- 0.4908

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