NZD/USD chart - Trading View
- NZD/USD is extending gains, tracks Aussie higher post RBA status quo.
- Aussie spikes as RBA refrains from a rate-cut, leaves the benchmark cash rate unchanged at 1.5%.
- Technical bias for the pair remains bearish and we recommend going short on upticks.
- The pair finds strong trendline support at 0.6580. Break below will see dip till 76.4% Fib at 0.6553.
- Developments surrounding the US-China trade deal could take the front seat in directing near-term moves.
- NZD/USD showed muted reaction to New Zealand inflation expectations which remained largely unchanged.
- RBNZ Q2 inflation expectations showed the price pressure to remain mostly unaffected at 2.01% versus the previous post of 2.02%.
- NZ global dairy trade prices could offer intermediate moves to the pair ahead of tomorrow’s RBNZ meeting.
- The GDT price index grew +0.5% in its previous release and is expected to register -1.1% contraction during this time.
- Focus also on March month JOLTS job openings. The employment data could rise to 7.240 million from 7.087 million previous.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
