Description
⋅ NZD/USD has recovered from low of 0.71616 till 0.7320 after RBNZ said it is expecting to leave interest rates on hold for considerable time.
RBNZ governor Wheeler added that he was pleased with current NZD/USD level. So slight jump till 0.7380/0.740 in NZD/USD cannot be ruled out.
On the downside the pair’s minor support is around 0.7260 and any break below will take the pair till
0.7198/0.7165.
The minor resistance is around 0.7350 and above could pave way for 0.7380/0.7410.
Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku-Buy
Recommendation: Buy NZD/USD around 0.7305, SL 0.7259, Targets 0.7380/0.7405.