FxWirePro: Kiwi falls drastically against major peers after Central bank cuts benchmark cash rate to 1.50 pct
Wednesday, May 8, 2019 2:20 AM UTC
- AUD/NZD is currently trading around 1.0680 marks.
- Pair made intraday high at 1.0723 and low at 1.0614 marks.
- Intraday bias remains bullish till the time pair holds key support at 1.0600 mark.
- A sustained close above 1.0617 will drag the parity higher towards key resistances around 1.0758, 1.0822, 1.0882 and 1.0951 levels respectively.
- Alternatively, a daily close below 1.0617 will take the parity down towards key supports around 1.0532/1.0449/1.0364/1.0275/1.0237/1.0192 marks respectively.
- New Zealand May cash rate decrease to 1.5 % (forecast 1.5 %) vs previous 1.75 %.