FxWirePro: Kiwi trades firm ahead of RBNZ, NZD/USD holds above 10-DMA

Persisting risk-on flows dominated the day's trade, boosting bids for higher yielding currencies, Asian stocks markets rallied.

• Antipodeans were the biggest beneficiaries of the risk environment with their respective fundamentals adding to their strength
• Kiwi tracked the Aussie higher and trades firmly beyond 0.6375 levels ahead of RBNZ rate decision and Monetary Policy Statement on Thursday
• The RBNZ is widely expected to deliver a 25 basis cut to interest rates and signal that further easing may be necessary, a wider cut could weigh on NZD
• NZD/USD pierced 10-DMA and holds above amidst early NY USD strength, daily RSI biased up, monthly diverging & turns up, a concern for bears 
• The pair is currently trading at 0.6383, with immediate resiatance at 0.6402 (Hourly High Sept 9) and support at 0.6357 (10 DMA)
   

Resistance Levels:

R3: 0.6415 (Daily High Sept 3)

R2: 0.6407 (Hourly High Sept 4)

R1: 0.6402 (Hourly High Sept 9)

Support Levels:

S1: 0.6357 (10 DMA)

S2: 0.6339 (Hourly Low Sept 9)

S3: 0.6260 (Session low Sep 8)