Research

nzd/usd Technicals

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SENTIMENT AND POSITIONING

	SSI Positioning NZD/USD Ratio: 1.99 Signal: Bearish Full Article

	COT Positioning Implications: Neutral Full Article

FUNDAMENTALS — THIS WEEKS ECONOMIC RELEASES

Most Recent Economic Releases	Forecast	Previous
NZD Average Hourly Earnings (QoQ) (2Q)	1.4%	1.1%
NZD Labor Cost Private Sector (QoQ) (2Q)	0.8%	0.7%
NZD Private Wages ex Overtime (QoQ) (2Q)	0.8%	0.7%
NZD ANZ Commodity Price Index (JUL)		0.0%
NZD Unemployment Rate (2Q)	3.8%	3.7% (R+)
NZD Employment Change (QoQ) (2Q)	0.2%	-1.3%
NZD Employment Change (YoY) (2Q)	-0.6%	-0.2%

Technicals - Support and Resistance for NZD

Support and Resistance Levels				Interest Rate Outlook
Key Levels		Strength	Comments	Timeframe	Target
R4	0.8217	High	2/27- 25 Year High	Benchmark	8.25
R3	0.8032	Medium	4/23 High
R2	0.7807	High	100 Day-SMA	1 Week	8.250
R1	0.7758	High	200 Day - SMA	1 Month	N/A
S1	0.7594	High	20 Day - SMA	3 Month	N/A
S2	0.7514	High	Bollinger Band Support	6 Month	N/A
S3	0.7241	High	61.8% Fibo 0.6637-0.8214	9 Month	n/a
S4	0.7011	High	76.4% Fibo 0.6637-0.8214	1 Year	7.943

FROM THE CENTRAL BANK

Central Bank Governor: Dr. Alan Bollard

Current Voting Members: Dr. Alan Bollard