RBNZ stays pat, NZD/USD spikes above 0.71, 0.72 levels in sight
Kiwi spiked over 100 pips to hit yearly high of 0.7146 after RBNZ held rates at 2.25%.
NZD/USD broke through the double top at 0.7054 (Apr 19th and May 3rd), we see scope for further upside.
With Fed delaying rate hikes, Kiwi bulls likely to push higher, pair on track to test 0.72 levels.
Hurdles on the upside are seen at 0.7150 and then 0.72 levels.
Supports on the downside are located at 0.71, 0.7054 (double top Apr 19th & May 3rd), 0.7012 (session lows).
Buy dips around 0.71 levels, SL: 0.7054, target: 0.7150, 0.72
NZD/USD broke through the double top at 0.7054 (Apr 19th and May 3rd), we see scope for further upside.
With Fed delaying rate hikes, Kiwi bulls likely to push higher, pair on track to test 0.72 levels.
Hurdles on the upside are seen at 0.7150 and then 0.72 levels.
Supports on the downside are located at 0.71, 0.7054 (double top Apr 19th & May 3rd), 0.7012 (session lows).
Buy dips around 0.71 levels, SL: 0.7054, target: 0.7150, 0.72