The last auction saw prices up 3.6% (May 2nd).
Be aware, the NZ Global Dairy Trade auction results will be released today. The release can have an impact on the NZD (stronger higher/weaker lower). The last auction came in at +3.6%. The last 4 auctions has seen the price rise.
Also out today, will be the latest estimate from the Atlanta Fed for 2Q GDP.
The NZDUSD has been trading in a choppy range. The price fell below the 100 hour MA earlier but is back above the MA level at 0.6871. A move below that level should solicit more selling. ON the topside, the 100 bar MA on the 4-hour chart held resistance in trading today (yesterday it broke and failed). Like the 100 hour MA below, if there is a break, look for momentum higher.
