The New Zealand Dollar (NZD) extended last week’s run higher against the British Pound (GBP) reaching 0.4740 (2.1100), falling slightly into Tuesday to 0.4730 (2.1130). UK housing data is behind some of the GBP weakness with prices falling 1.9% in August, annually 4.6% with prices back to the start of the year. UK claimant data releases later tonight with figures expected to show less people filed for unemployment in August. If we see a break above 0.4750 (2.1050) we could see further support for the kiwi with a possible retest of the 5-week high at 0.4785 (2.0900).
Current Level: 0.4727
Resistance: 0.4840
Support: 0.4630
Last Weeks Range: 0.4670 – 0.4730