Overall, NZD/USD is ranging across. Recently, NZD/USD trended into the resistance zone of 0.72850.
The Reserve Bank of New Zealand (RBNZ) held its monetary policy unchanged yesterday during its meeting. However, due to its optimism in the current COVID situation and how the New Zealand economy has been performing, the central bank is now forecasting a hike in interest rate in September 2022, way earlier than the other central banks.
Currently, NZD/USD is testing the resistance zone of 0.72850 and the next support zone is at 0.71000.
With the hawkish statement from the RBNZ, look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.72850.
The Reserve Bank of New Zealand (RBNZ) held its monetary policy unchanged yesterday during its meeting. However, due to its optimism in the current COVID situation and how the New Zealand economy has been performing, the central bank is now forecasting a hike in interest rate in September 2022, way earlier than the other central banks.
Currently, NZD/USD is testing the resistance zone of 0.72850 and the next support zone is at 0.71000.
With the hawkish statement from the RBNZ, look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.72850.
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