The New Zealand Dollar (NZD) has made attempts to regather last week’s losses Monday improving off 0.6155 to 0.6215 this morning against the US Dollar (USD). Equity markets were back in black overnight after extended moves to the downside over the past week kept the kiwi weighed down. We are optimistic we may see a push higher over the week by the kiwi as we watch the key Federal Reserve rate release Thursday. The Federal Reserve will most likely hike just 25 points to 5.5%. Market will be watching for clues as to whether the Fed will halt its tightening policy as analyst’s fear a hard fall to the economy looms.
Current Level: 0.6191
Resistance: 0.6390
Support: 0.6065
Last Weeks Range: 0.6163-0.6366