The New Zealand Dollar (NZD) reached the outer range low Monday around 0.4790 (2.0880) against the English Pound (GBP) before reversing back to 0.4835 (2.0680) early this morning the kiwi making back some of last week’s losses. UK Retail Sales printed better than expected at 0.7% vs 0.2% forecast for the month of June showing a reflection of “summer sales” in the region. Soft UK Manufacturing has signalled a slowing theme along with Chinese authorities pledging to increase policy supports all supported the kiwi. We don’t have any further data to publish in the pair over the rest of the week suggesting price could continue to bounce around in recent zones.
Current Level: 0.4830 (2.0703)
Resistance: 0.4880 (2.0880)
Support: 0.4790 (2.0490)
Last Weeks Range: 0.4786-0.4880 (2.0492-2.0892)