FX News

NZD/GBP Transfer:

The New Zealand Dollar (NZD) travelled out of its broad range late last week against the British Pound (GBP) reaching 1.9080 before falling back Monday to 0.5170 (1.9350) in risk off conditions. UK constructions PMIs weighed down the Pound despite a decent read in BRC Retail Sales. The economic docket is again thin this week with very little data upcoming to consider. Direction looks to be kiwi favoured with recent momentum still shaping flow. Certainly, the recent RBNZ hike should reflect this. A retest of 0.5305 (1.8850) over the coming days/weeks looks a chance.

Current Level: 0.5201 (1.9227)
Resistance: 0.5245 (1.9450)
Support: 0.5140 (1.9070)
Last Weeks Range: 0.5141-0.5241 (1.9080-1.9450)

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