NZD/USD holds ahead of RBNZ decision to Win

FXStreet – The currency pair NZD/USD was on Wednesday the capital from the weakness of Greenbacks to pull and reached for 0,6952 the highest level since the seven days. Because of the US-Dollar-Index at the beginning of the American session, no significant correction of the stage, biting the currency pair to the session high. Finally, the NZD/USD traded on 0,6946 and to 0.72 percent in the Plus.

The next important event for the currency pair takes place in the early Asian business. The Reserve Bank of New Zealand will decide on its key interest rate and its monetary policy Statement, publish, followed by a press conference. Although the majority of market participants expect the Central Bank will leave interest rates unchanged at the level, it will be interesting to see whether it is upward to enter revisions in the inflation forecast.

The Bank took in the last sessions, a neutral stance, which suggests that, depending on the Situation, the next monetary policy step will be a reduction or an increase in could be. The Central Bank should strike again in a cautious tone, it could get the currency pair of the difficulties in the direction of determination, but short-term fluctuations cannot be ruled out.

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Technical Outlook

The next Resistances lie at 0,6975 (50-days-line), 0,7000 (psychological mark) and 0,7050 (High 19. April). Supports on the other hand, 0,6900 (psychological mark), 0,6840 (10-month Low / Deep 04. To find may) and 0,6800 (psychological mark).

** FXStreet News Editorial, FXStreet**

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