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FxWirePro: Kiwi reverses previous gain against major peers on the back of RBNZ’s cash rate decision

AUD/NZD is currently trading around 1.0904 marks. Pair made intraday high at 1.0905 and low at 1.0865 marks. Intraday bias remains slightly bullish till the time pair holds key support at 1.0857 mark. A sustained close a…

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FxWirePro: Kiwi reverses previous gain against major peers on the back of RBNZ’s cash rate decision
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  • AUD/NZD is currently trading around 1.0904 marks.
     
  • Pair made intraday high at 1.0905 and low at 1.0865 marks.
     
  • Intraday bias remains slightly bullish till the time pair holds key support at 1.0857 mark.
     
  • A sustained close above 1.0890 will drag the parity higher towards key resistances at 1.0976/1.1058/1.1175/1.1268/1.1422/1.1526 levels respectively.
     
  • Alternatively, a daily close below 1.0890 will take the parity down towards key supports around 1.0857/1.0782/1.0658/1.0572/1.0502  marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • New Zealand cash rate stays flat at 1.75 % (forecast 1.75 %) vs previous 1.75 %.

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