FX News

NZD to AUD Conversion:

The Australian Dollar (AUD) has climbed all over the New Zealand Dollar (NZD) in recent sessions, the pair returning to recent lows around 0.9120 (1.0960) extending last week’s strength from the 0.9240 (1.0820) high. A daily close above 1.1000 (0.9090) could spell further declines for the kiwi, the cross hasn’t traded above 1.1180 (0.8945) since September 2015, a possibility in the medium term but it has to get through 0.9000 first which could be a tall order. The RBA rate release and statement is later today, it’s not an absolute given the RBA will hike from 0.10%, it’s said this could mess with the Federal Election later this month with the RBA finding itself in the middle of a political and strategic dilemma. NZ jobs data prints Wednesday and is predicted to click lower to 3.1% the lowest in decades, this data may give the kiwi upside bias.

Current Level: 0.9115 (1.0959)
Resistance: 0.9240 (1.1040)
Support: 0.9060 (1.0820)
Last Weeks Range: 0.9110-0.9242 (1.0820-1.0976)

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