Forex: NZD/USD soars as RBNZ stays on hold

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FXstreet.com (Córdoba) - The Kiwi dollar jumped to fresh highs versus the greenback after the Reserve Bank of New Zealand decided to leave the Official Cash Rate ( OCR ) unchanged at 2.5% as expected. However, the RBNZ statement sounded hawkish as it said the bank is watching for greater degree of inflation pressure.

NZD/USD jumped to a fresh 1-month high of 0.8284 from around 0.8250 before the release, and was last up 0.5% at the 0.8280 area.

As for technical levels, above 0.8280 immediate resistance levels for the cross are seen at 0.8300 (psychological level) and 0.8335 (October monthly high). On the other hand, supports could be found at 0.8235 (daily low), 0.8215 (10-day SMA) and 0.8200(psychological level).



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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