The New Zealand Dollar (NZD) picked up late points heading into the weekly close against the British Pound (GBP) extending from 0.4890 (2.0450) to 0.4935 (2.0270) around where it closed. This week’s key data is the Reserve Bank of New Zealand rate announcement and policy statement. While no change is predicted from 5.5% analysts will be looking for clues as to when a further 25-point hike will take place. Prices into Tuesday hover around 0.4915 (2.0350) well below the game line moving average suggesting bias is still cemented to the topside.
Current Level: 0.4912
Resistance: 0.5050
Support: 0.4630
Last Weeks Range: 0.4858 – 0.4933