Not good times for the Kiwi $
We've fallen further in Europe to post 6-week lows of 0.6485 with AUDNZD rising to 1.0960, just above Friday's 1 month high of 1.0950. More res seen into 1.1000
Tomorrow's Global Dairy Trade auction is expected to produce lower price for the 3rd consecutive time with a 3% move lower from a 7.4% fall last time.
Earlier in Asia Fonterra increased its earnings per share forecast range which Eamonn posted on here, and initially lent some support but NZDUSD ran into offers/res at 0.6540 and AUDNZD found bids at 1.0835
Adam had this story on Fonterra/GDT at the week-end
NZDUSD currently 0.6484 chewing through more bids. Expect previous support between 0.6500-10 to now act as resistance
