• NZD/USD continues to tread water ahead of critical U.S. inflation update

• U.S. Jul CPI due later Wed, Reuters poll: headline +3.4% y/y, core +2.5% y/y

• Iran says Strait of Hormuz will remain closed until U.S. meets its demands

• Release of RBNZ Q3 expectations survey Thur will be closely watched

• NZD well supported near 0.5850, break below requires shift in RBNZ narrative

• Futures pricing currently implies 86.4% chance of 25 bps RBNZ hike Sep 2

• Range NZ 0.58775-825, support 0.5850 0.5627, resistance 0.5990-95 0.60925
NZD Hourly Bollinger Study & DXY Daily 55-DMA


NZD Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)