USD

The Australian Dollar (AUD) was sold down to 0.6100 (1.6400) Friday a 5-week low post US (NFP) Non-Farm Payroll releasing before recovering in Monday markets to 0.6150 (1.6260) against the Euro. Weekend European election results sank the Euro, the French President Macron calling a snap election after being defeated by the far right. On the economic docket this week in the pair is Aussie jobs numbers Thursday expected to weaken the AUD.

Current Level: 1.6315
Resistance: 1.6600
Support: 1.6210
Last Weeks Range: 1.6252- 1.6419

The Australian Dollar (AUD) was sold down to 0.6100 (1.6400) Friday a 5-week low post US (NFP) Non-Farm Payroll releasing before recovering in Monday markets to 0.6150 (1.6260) against the Euro. Weekend European election results sank the Euro, the French President Macron calling a snap election after being defeated by the far right. On the economic docket this week in the pair is Aussie jobs numbers Thursday expected to weaken the AUD.

Current Level: 0.6129
Resistance: 0.6170
Support: 0.6020
Last Weeks Range: 0.6090- 0.6153

The Australian Dollar (AUD) got hammered Friday dropping to 0.5170 (1.9340) at the weekly close against the British Pound (GBP) off the back of Fed job’s numbers and ‘big” dollar remand. The bear run remains our focus technically from the mid-May high at 0.5285 (1.8920), we see the GBP well supported on dips and should remain in control for a while. On the docket this week is Aussie employment data with numbers expected to come in light.

Current Level: 1.9297
Resistance: 1.9400
Support: 1.9130
Last Weeks Range: 1.9091- 1.9328

The Euro (EUR) rallied Friday coming off 0.5695 (1.7560) area to reach 0.5650 (1.7700) against the New Zealand Dollar (NZD). The kiwi contending with an intense session Friday after US job numbers boosted the US Dollar as investors sold “risk”. However, the Euro gave it all back Monday reacting to the weekend European Parliamentary election result. The NZD/EUR is inching closer to the yearly open price at 0.5730 (1.7450), we expect the NZD bull run to continue over June.

Current Level: 1.7574
Resistance: 1.7790
Support: 1.7450
Last Weeks Range: 1.7524 – 1.7698

The Euro (EUR) rallied Friday coming off 0.5695 (1.7560) area to reach 0.5650 (1.7700) against the New Zealand Dollar (NZD). The kiwi contending with an intense session Friday after US job numbers boosted the US Dollar as investors sold “risk”. However, the Euro gave it all back Monday reacting to the weekend European Parliamentary election result. The NZD/EUR is inching closer to the yearly open price at 0.5730 (1.7450), we expect the NZD bull run to continue over June.

Current Level: 0.5690
Support: 0.5620
Resistance: 0.5730
Last week’s range: 0.5650- 0.5706

The New Zealand Dollar (NZD) retreated from the 0.4855 (2.0600) level Friday falling to 0.4800 (2.0845 at the close of the week reversing a large part of a 5 week climb from around 0.4785 (2.0900). Risk currencies all got sold off the back of a surprising upswing in US job’s data. Into Tuesday prices in the pair sit around the weekly open at 0.9285 (1.0770). We await UK GDP tomorrow, the UK economy is predicted to grow 0.0% in April after 0.4% in March suggesting that although the country is out of recession they are running close to the wire. Risk remain to the upside for the kiwi.

Current Level: 2.0785
Resistance: 2.0900
Support: 2.0600
Last Weeks Range: 2.0605- 2.0845

The New Zealand Dollar (NZD) retreated from the 0.4855 (2.0600) level Friday falling to 0.4800 (2.0845 at the close of the week reversing a large part of a 5 week climb from around 0.4785 (2.0900). Risk currencies all got sold off the back of a surprising upswing in US job’s data. Into Tuesday prices in the pair sit around the weekly open at 0.9285 (1.0770). We await UK GDP tomorrow, the UK economy is predicted to grow 0.0% in April after 0.4% in March suggesting that although the country is out of recession they are running close to the wire. Risk remain to the upside for the kiwi.

Current Level: 0.4811
Resistance: 0.4855
Support: 0.4785
Last Weeks Range: 0.4797- 0.4853

The New Zealand Dollar (NZD) moved to the edge of the recent uptrend early this week against the Australian Dollar (AUD) to 0.9260 (1.0800) bouncing off the 50% Fib level before spiking into Tuesday to 0.9285 (1.0770) as the kiwi looks to extend its recent form higher. Data this week comes in the form of the Australian Jobs report with predictions the unemployment rate to rise from 3.9% to 4.0% – not enough for the RBA at this stage to consider cutting their cash rate earlier with jobs data still running hot. The NZD looks to be well supported on dips following the run higher from 0.9070 (1.1025)

Current Level: 1.0769
Resistance: 1.0850
Support: 1.0700
Last Weeks Range: 0.9231 – 0.9235

The New Zealand Dollar (NZD) moved to the edge of the recent uptrend early this week against the Australian Dollar (AUD) to 0.9260 (1.0800) bouncing off the 50% Fib level before spiking into Tuesday to 0.9285 (1.0770) as the kiwi looks to extend its recent form higher. Data this week comes in the form of the Australian Jobs report with predictions the unemployment rate to rise from 3.9% to 4.0% – not enough for the RBA at this stage to consider cutting their cash rate earlier with jobs data still running hot. The NZD looks to be well supported on dips following the run higher from 0.9070 (1.1025)

Current Level: 0.9277
Resistance: 0.9345
Support: 0.9220
Last Weeks Range: 1.0723- 1.0832