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12 Mar 2015
NZD/USD toying with 0.73
FXStreet (Mumbai) - NZD/USD extends RBNZ induced gains and remains elevated in the mid-Asian session, as traders continue to digest the central bank’s unchanged policy stance, keeping OCR unchanged at 3.5%.
NZD/USD stuck around 0.7300
Currently, the NZD/USD pair trades 0.13% higher at 0.7301, having previously posted fresh session highs at 0.7329 levels. NZD/USD dipped close to six year lows at 0.7192 on rate announcement, however quickly rebounded to 0.73 barrier. The Kiwi defends gains and is seen trading in a tight range after the Reserve Bank of New Zealand (RBNZ) policy statement.
RBNZ kept its OCR unchanged at 3.5% and left its 90-day bank bill track unchanged into early 2017, which signals that they don't foresee any rate cuts, or hikes, until at least then.
Meanwhile, traders now shift their attention towards a deluge of US economic releases later in the day for further momentum on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7329 (Today’s High) levels and above which it could extend gains to 0.7362 (March 10 High) levels. To the downside immediate support might be located at 0.7249 (March 10 Low) levels below that at 0.7174 (Feb 3 Low) levels
NZD/USD stuck around 0.7300
Currently, the NZD/USD pair trades 0.13% higher at 0.7301, having previously posted fresh session highs at 0.7329 levels. NZD/USD dipped close to six year lows at 0.7192 on rate announcement, however quickly rebounded to 0.73 barrier. The Kiwi defends gains and is seen trading in a tight range after the Reserve Bank of New Zealand (RBNZ) policy statement.
RBNZ kept its OCR unchanged at 3.5% and left its 90-day bank bill track unchanged into early 2017, which signals that they don't foresee any rate cuts, or hikes, until at least then.
Meanwhile, traders now shift their attention towards a deluge of US economic releases later in the day for further momentum on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7329 (Today’s High) levels and above which it could extend gains to 0.7362 (March 10 High) levels. To the downside immediate support might be located at 0.7249 (March 10 Low) levels below that at 0.7174 (Feb 3 Low) levels