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Oct 05 - 10:55 PM

NZD/USD - Hitting Session Lows Despite RBNZ Hawkish Hike

By John Noonan  —  Oct 05 - 10:09 PM
  • NZD/USD slumping to session low below 0.6935 after trading to 0.6980 earlier

  • Longs are paring back after it failed to follow-though high after RBNZ hike nL4N2R10I0

  • The 25 BP hike to 0.50% was expected and market was positioned for it

  • The RBNZ statement/minutes were hawkish, but that was also expected

  • Support is at daily lows around 0.6925/30 where some bids are eyed

  • NZD also weighed down by sluggish equity markets with E-minis down 0.50%

  • A close later today below 0.6930 would complete a bearish outside day

  • More support is found at the double-bottom at 0.6860

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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