we have RBNZ rate decision this week and is expected to keep on hold since they recently cut a huge bps in their last meet. Post their rate cut, the global markets recovered with US-China trade war that seemed to pacify a bit. which all gave relief to AUD. But with respect to KIWI, gaining strength, one should also look at AUDNZD . a lot of confluences on that one, too.
Hence, if RBNZ sounds less dovish or even mention wait and see approach for taking further steps, then KIWI can soar dramatically as it has been beaten down by over 5 cents in a short time span.
SL adjusted to 0.61