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FxWirePro: RBNZ expands QE, leaves door open for negative rates; NZD/USD slumps over 0.70% in the aftermath

NZD/USD chart - Trading View 

The Reserve Bank of New Zealand (RBNZ) keeps rates at 0.25%, announced additional stimulus measures.

The central bank expanded the quantitative easing (QE) programme size to NZD60 billion from $30 billion, as expected. 

RBNZ said it is prepared to cash rate further, negative official cash rate (OCR) will become an option in the future. 

Offer tone around the Kiwi has strengthened after a dovish RBNZ pushing the pair lower. 

NZD/USD was trading 0.80% lower on the day at 0.6028 at around 02:30 GMT, bias bearish.

Price action has broken below 20-DMA and Wedge base support to dip into the daily cloud.

Technical indicators support further weakness. Dip till lower Bollinger band at 0.5939 likely.
 

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