NZD/USD rises back to test weekly highs ahead of RBNZ – by MSalordFX NZDUSD Currencies RBNZ DollarIndex
The kiwi needs to make a clear break above 0.5750 in order to open the doors to further gains. The next barrier is seen at 0.5805. On the flip side, the immediate support might be seen at 0.5725 while the key intraday level is 0.5680, the daily low. A break under 0.5680 would leave the kiwi vulnerable.continues to be driven by a decline of the US dollar across the board. The DXY is falling again on Tuesday, about to post the fourth decline out of the last five days. It is trading at 110.
The Reserve Bank of New Zealand will announce its decision on Wednesday . A 50 basis points rate hike to 3.50% is expected. It would be the fifth consecutive hike in a row. Any changes to the statement could have a large impact on the kiwi.
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