FxWirePro: Kiwi weakens severely against major peers after RBNZ’s cash rate decision
Thursday, August 9, 2018 1:30 AM UTC
- AUD/NZD is currently trading around 1.1125 marks.
- Pair made intraday high at 1.1137 and low at 1.1010 marks.
- Intraday bias remains bullish till the time pair holds key support at 1.1010 mark.
- A sustained close above 1.1010 will drag the parity higher towards key resistances at 1.1180/1.1268/1.1422/1.1526 levels respectively.
- Alternatively, a daily close below 1.1010 will take the parity down towards key supports around 1.0922/1.0844/1.0782/1.0658/1.0572/1.0502 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- RBNZ cash rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %.
- RBNZ sees official cash rate at 1.8 pct in December 2019 (previous 1.9 pct).
- RBNZ head says we’d be sensitive to continued downside surprises to GDP.