NZD/USD down 0.5% in Asia after RBNZ cuts OCR by 50 bps to 4.75% as expected

C.bank says inflation declining, labour market conditions to ease further

Growth to remain subdued in near-term; future moves data dependant

Overall tone dovish but well priced in by markets

NZD breaks 50% retracement support at 0.6114, near 200-day MA at 0.6098

Daily close below 200-DMA opens 0.6050; resistance 0.6150, 0.6180

Asia range 0.6096-0.6141

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