NZD / USD: in anticipation of meeting RBNZ
expected tomorrow at 00:00 (GMT + 3) RB New Zealand will lower its key interest
rate by 25 basis points from the current 3.25%, which was already taken into account
Most market participants.
Today, with the opening of the Asian session, the pair is reduced. Nearly
zero inflation, a fall in prices for dairy products, the Fed’s policy of raising
interest rate in the United States by the end of the year, as well as the expectation of a further decline
interest rates in the country are putting pressure on the New Zealand dollar.
New Zealand is not on today.
Support and resistance levels
It traded at a 5-year lows, but the downward trend is maintained. pair
the expected level of support 0.6500 (recent low), 0.6435 (Fibonacci level
61.8%), 0.6000 (2006 lows).
4-hour chart pair moves into the narrow downlink and is at its upper
border. Indicators OsMA and Stochastic on the 4-hour chart unfolded on sale,
although the daily – went to the shopping area. With the support of the fundamental
factors, and also on the basis of readings of indicators on the 4-hour chart, couple
It is located in a good area to open short positions.
0.6500, 0.6435, 0.6400.
Resistance: 0.6750, 0.6810, 0.6890, 0.7000.
short positions from current levels, and the levels 0.6700, 0.6750, 0.6800 with
targets 0.6500, 0.6450, 0.6435, 0.6400 and stop-loss at the level of 0.6830.
script and long positions will be relevant in the breakdown of the level 0.6890 (level
Fibonacci 50%) with the objectives of 0.6900, 0.6950, 0.7000.
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