LeoPrime Daily Market Analysis

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AUD / NZD : Expected Range: 1.0320 – 1.0520


The NZD Dollar opened yesterdays Asian session around the 0.6850 level and found itself being dragged lower as the day went on, markets shifted their focus on the US-China trade talks and with China being one of the largest NZ customers the pair felt the pressure. Things didn’t change much offshore with the Greenback shrugging off a slew of negative U.S data pointing to signs of slowing growth in the underlying economy.

The NZD/USD pair fell just below 0.68 and further risk to the downside can be expected. Looking ahead we have Credit Card Spending due later today.

Immediate support-line can be seen at 0.6790, followed by 0.6740. Meanwhile, 0.6880 and 0.6890 seem nearby resistances to conquer for buyers ahead of looking at the 0.6905 and 0.6935 numbers to the north.

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