NZ CPI inflation data confirmed inflation was falling and that rates are likely to soften this coming year, adding downside pressure to the NZD. This coming week though, will be all about speculation over the FOMC meeting and what the reserve currency will do. The Fed are likely to leave rates unchanged but a hawkish narrative may drive the USD higher, adding downward pressure to the KIWI.
Current level: 0.6110
Support: 0.6080
Resistance: 0.6200
Last week’s range: 0.6075-0.6135