FX_IDC:NZDUSD NEW ZEALAND DOLLAR / US DOLLAR
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Hmmm.... assuming you are new trader. Anyway, you can see from his/her chart , he/she has marked a level with lines . . .. you can call it 'pirce zone level' theres strong probability price may bounce from this level or can can go even lower from this level. so just keep an eye on this level. if price hit that price zone and goes up you pull 'LONG' trigger and for 'SHORT' is just opposite :-) I hope its clear ;-)
Cutting the OCR now was not the best moment, regarding the urge speculation on the housing market in NZ. Good point is investors are now able to buy NZ home at cheaper price, borrowing overseas at cheaper rate. I guess NZD will recover quite quickly from the North. Just need one or two dairy auctions with prices up, to get the NZD up. Next dairy auction the 16 of June.
The New Zealand Dollar is currently consolidating its near 5-year lows below 0.7000 as the pair found buying interest at 0.6965 after falling from 0.7200. The drop was driven by the RBNZ that cut interest rates for the first time in 5 years. The reaction following the RBNZ's interest rate was furious as the NZD/USD collapsed 240 from 0.7200 to its lowest level since September 2010 at 0.6965. After bottoming at this level, the pair found some buying interest that allowed the pair to consolidate just below 0.7000.