HEmmanuel

AUDNZD projection after RBNZ's rate cut decision.

FX:AUDNZD   Australian Dollar/New Zealand Dollar
115 1 2
RBNZ cuts interest rate by 25bp to 3% and hints further easing. 25 bp             cut was already priced in and the market was expecting a 50 bp             cut hence we see this strength in kiwi dollar. I will be watching the 1.1020 area very closely, a break below will give room for further correction but a hold will resume the upward trend.
NZD smashed through the 1.1020 strong support level. Next target 1.9000.
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