The Australian dollar extended its recent decline against the New Zealand dollar ahead of the European session on Thursday, falling as low as 1.2611 around 2:55 am ET, down from 1.2623 hit late New York Wednesday.
The pair has been consolidating around its 38.2 percent retracement target at 1.2650 for the past couple of weeks and any further up or downswings could help the pair re-test major resistance or support levels.
Key level to watch for the AUD/NZD cross on the upside is 1.2730, its 50.0 percent retracement target and its 23.6 percent level of 1.2540 seen as the next likely support on the downside.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.