NZD/USD chart - Trading View
NZD/USD was trading 1.02% lower on the day at 0.6944 at around 06:10 GMT.
The kiwi was hammered on Tuesday as reports emerged of community COVID-19 spread in Auckland.
New Zealand has seen relative success in combating the covid spread, and the reports of Covid case despite the closure of the borders still in place, spooks investors.
The reports have poured cold water on the RBNZ rate hike expectations of a 50 bps on Wednesday.
Markets had priced in the rate hike from the RBNZ and hence the report of Covid spread is weighing down the kiwi.
Technical picture is also supportive of the downside. Upside had been capped at stiff resistance at 55-EMA and 21-week EMA.
Focus on US Retail Sales, FOMC minutes and RBNZ policy meet for further impetus.
Death Cross on the daily charts keeps scope for downside. The pair is now on track to test trendline support at 0.69. Break below will see further downside.


FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro: USD/CAD slips as oil rally boosts loonie
FxWirePro- Major Crypto levels and bias summary
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro: GBP/NZD bulls loosen their grip a bit, dips to be bought
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ZAR extends losses ,eyes 16.400 level
FxWirePro: USD/CNY downside pressure builds, key support level In focus
AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106
FxWirePro: GBP/USD advances on steady UK GDP growth
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
EUR/JPY Surges on Yen Weakness: Bullish Momentum Eyes 186-187 Targets
FxWirePro- Woodies Pivot(Major)
NZDJPY Bulls Charge Ahead: Buying the Dips Above 90 for a Shot at 92 



