RBNZ interest rate decision this week, with an expectation for rates to be held at 1.75%
However, it would be crucial to pay attention to the tone of the statement accompanying the decision.
The last time NZD/USD approached these prices where in early Feb 2017.
And the accompanying rate statement stated: " The exchange rate remains higher than is sustainable for balanced growth and, together with low global inflation, continues to generate negative inflation in the tradables sector. A decline in the exchange rate is needed."
This resulted in the NZD/USD moving down by 300 pips.
Will we see something similiar?
The next support level is 0.7130
However, it would be crucial to pay attention to the tone of the statement accompanying the decision.
The last time NZD/USD approached these prices where in early Feb 2017.
And the accompanying rate statement stated: " The exchange rate remains higher than is sustainable for balanced growth and, together with low global inflation, continues to generate negative inflation in the tradables sector. A decline in the exchange rate is needed."
This resulted in the NZD/USD moving down by 300 pips.
Will we see something similiar?
The next support level is 0.7130
Order cancelled:
trade was not triggered