When is the RBNZ and how it could affect NZD/USD? – by anilpanchal7 RBNZ Events NZDUSD RiskAppetite InterestRate
strength, backed by upbeat US data, weigh on prices. It should be noted that the quote’s latest corrective bounce could be linked to the market’s preparations for the Federal Open Market Committee’s Monetary Policy Meeting Minutes.
Given the clear early signals of witnessing a 0.50% rate hike, the NZD/USD appears well-set to consolidate the latest losses around the seven-week low. However, a negative surprise due to the natural calamity at home won’t hesitate to drown the Kiwi pair. Technically, the Kiwi pair rests on the 200-DMA support surrounding 0.6180, pressured down by a three-week-old resistance line, close to 0.6285-90. However, the RSI line is nearly oversold and hence the downside room appears limited.About the RBNZ interest rate decision and rate statement
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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