nzdusddaily

The Reserve Bank of New Zealand have the highest interest rates currently amidst all other major currencies and its set to hike its rates today again by another 25bps resulting to a 3.00% rates from the earlier hiked rate this year of 2.75%. If we get a rate hike as forecasted by economists, this would provide a great opportunity to buy the dips all the way back to 0.87445 resistance in the NZD/USD currency pair and a break of this resistance would resume the current bullish run in the long term picture.

 

However if the rate is left unchanged we might see more weakness in the NZD/USD currency and more supply to 0.85540 and 0.85132 supports could be seen respectively. A clear break of 0.85132 supports would see a potential reversal from the current bullish trend in the currency pair to the 0.84000 psychological zones.

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