It’s been a shaky start to the week in the New Zealand Dollar (NZD), British Pound (GBP) pair pushing lower to 0.4812 (2.0780) and back to 0.4835 (2.0680) this morning. Early strength in the GBP was undone off the back a little “risk” demand. Key data this week is the RBNZ rate announcement- no change is expected from 5.5% but comments around future rate cuts could be interesting. Rhetoric around bringing forward from late next year could weaken the kiwi.
Current Level: 0.4828
Resistance: 0.4995
Support: 0.4784
Last Weeks Range: 0.4810 – 0.4857