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11 Mar 2015
NZD/USD: Relief rally under way; bird flying to 0.73 handle
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7300 at time of writing with a low of 0.7162 and a high of 0.7308.
NZD/USD has been choppy post the release of the RBNZ's steady hand with a quick spike on the release of the result, 0.7220's then back down to the figure before the bulls regrouped and took off for a full cent higher. The RBNZ left steady with rates at 3.5%.
However, the Central Bank is widely expected to cut later this year which begs the question of when will the next bout of supply come in and take the bird lower towards the Feb lows of 0.7176 lows. Fading opportunities may come of this relief rally on the knee jerk and much will now depend on the USD with analysts predicting a hike as soon as June and if not in September.
NZD/USD has been choppy post the release of the RBNZ's steady hand with a quick spike on the release of the result, 0.7220's then back down to the figure before the bulls regrouped and took off for a full cent higher. The RBNZ left steady with rates at 3.5%.
However, the Central Bank is widely expected to cut later this year which begs the question of when will the next bout of supply come in and take the bird lower towards the Feb lows of 0.7176 lows. Fading opportunities may come of this relief rally on the knee jerk and much will now depend on the USD with analysts predicting a hike as soon as June and if not in September.