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Apr 09 - 08:55 PM

NZD/USD - Opens Higher Ahead Of RBNZ Decision

By John Noonan  —  Apr 09 - 07:30 PM
  • NZD/USD opens +0.48% as NZD was best preferring major currency Tuesday

  • It is trading around the 200-day MA (0.6066) and traded as high at 0.6076

  • RBNZ meets today with everyone expecting no change at 5.50% nW1N3FR03S

  • Market expects guidance to be the same as February, as mixed data since

  • A dovish surprise would be if RBNZ hints they are preparing to ease

  • A statement similar to February unlikely to see NZD/USD react too much

  • A dovish tweak could result in NZD/USD falling below 21-day MA at 0.6034

  • More support is at the 10-day MA at 0.6007

  • Resistance is at the 38.2 of December April fall at 0.6103

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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