FX News

NZD/USD Transfer

The RBNZ decision to leave rates unchanged was expected, but the accompanying narrative was surprisingly ‘hawkish’. The Central Bank indicated that there could be further rate rises if inflation persists. This added upside to the NZD, which spiked up to 0.6200, although settled as the reserve continues to rally. The short-term attraction of higher interest rates support the currency, only until risk is considered.

Current Level: 0.6135
Resistance: 0.6230
Support: 0.6045
Last Weeks Range: 0.6053 – 0.6197

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