Breaking: NZD Slips as RBNZ Cuts Rates by 50 bps

At its October meeting, the Reserve Bank of New Zealand (RBNZ) cut the Official Cash Rate (OCR) by 50 basis points, lowering it from 5.25% to 4.75%, in line with expectations.

The NZD/USD pair deepens its decline, falling below the crucial 100 AND 200-day Exponential Moving Average (EMA). A clear break could set the stage for a move toward the psychological 0.6000 level.

Looking ahead, traders will focus on the Federal Open Market Committee (FOMC) Minutes, set for release later on Wednesday.