FxWirePro: Kiwi outperforms on Fonterra’s upward revision by S&P, good to buy NZD/USD dips
The New Zealand dollar held at 0.6674 against the Greenback, after having dropped 1.1 percent on Tuesday NZD/USD briefly dipped after RBNZ Governor Graeme Wheeler reiterated that further easing in the cash rate seemed li…
The New Zealand dollar held at 0.6674 against the Greenback, after having dropped 1.1 percent on Tuesday
NZD/USD briefly dipped after RBNZ Governor Graeme Wheeler reiterated that further easing in the cash rate seemed likely
The pair staged a a solid comeback, reversing the RBNZ Governor Wheeler's dovish comments induced downward spike and is currently trading at day's highs by 0.6676
The RBNZ next reviews rates on Oct. 29, with swap rates giving a one-in-four chance of a cut to 2.5 percent
Longer trend is bearish, but short-term rally could extend further, price action has edged above the cloud and Tenkan and Kijun show bullish crossover on dailies
Support for NZD/USD was found at 0.6632 (100-Day MA) and resistance at a three-month peak of 0.6740 set on Monday
Recommendation: Good to buy dips around 0.6660/65, SL: 0.6615, TP: 0.6710
