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AUD/NZD eyes May high, Kiwi's plunge supports

NZD worst performer on day, AUD/NZD bid on that and Key's cap gains on NZ property sales 1.0835/40 is immediate resistance, break likely sees quick test of May high Daily RSI overbought but monthly has room to run, 200 &…

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  • NZD worst performer on day, AUD/NZD bid on that and Key's cap gains on NZ property sales

  • 1.0835/40 is immediate resistance, break likely sees quick test of May high

  • Daily RSI overbought but monthly has room to run, 200 & 10 DMAs lend support

  • Above 1.09 eyes 1.1020 then 1.1090 
  • Market prices near 50% chance of RBNZ cut & 45 bps of cuts over next 12 mos

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Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560