ByJin Dao Tai
AUG 19, 2021
Overall, NZD/USD is ranging across. Recently, NZD/USD weakened and broke below the key level of 0.69 after the release of the hawkish Federal Reserve meeting minutes.
The Reserve Bank of New Zealand (RBNZ) held interest rate unchanged at 0.25% as opposed to the expected rate hike due to the newly imposed nationwide level 4 lockdown. Nonetheless, the central remains hawkish, carrying forward its expectation of a rate hike from September 2022 to this coming December as indicated in the quarterly monetary policy statement.
NZD/USD’s next support zone is at 0.67900 and the next resistance zone is at 0.69500.
Look for short-term selling opportunities of NZD/USD.
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