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Derived real-time data in partnership with:
Thomson Reuters
Feb 12 - 11:00 PM
NZD/USD - Stalls At Resistance Around 0.6830
First appeared on eFXplus on Feb 12 - 08:45 PM
  • NZD/USD flew up to 0.6829 from 0.6740 after RBNZ decsison/statement
  • Market was short and priced in a more dovish statement and OCR projection
  • Move higher stalled at 50% retracement of 0.6942/0.6720 move at 0.6831
  • Price action may have been exaggerated by pre-RBNZ positioning
  • RBNZ won't welcome excessive NZD gains and Orr may push back in presser
  • NZD/USD settling around 0.6800 where 21 & 55-day MAs converge

nzd/usd Click here

Source:
Thomson Reuters IFR Markets

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