1:00🇳🇿NZD = RBNZ RATE STATEMENT
💡 The Official Cash Rate is expected to remain on hold at 0.25%. Economic progress in New Zealand better than anticipated, Orr may hint at tightening. NZD/USD has room to extend its advance, mainly on a break above 0.7100.
💡 The RBNZ Rate Statement contains the explanations of the decision on interest rates and commentary about the economic conditions that influenced it.
📈NZDUSD Chart:
Technicals: Based on the 4hr time frame you can see price has been consolidating between the two levels indicated on the chart. This is a good example of how price ranges back and forth in price before a strong bullish/bearish move is made.
With the Fundamentals stated above we could a potential break out of this ranging level and if so we could then see bullish momentum to the upside of around 0.71788 as our first take profit. Long term. Targets to 0.74588
💡 The Official Cash Rate is expected to remain on hold at 0.25%. Economic progress in New Zealand better than anticipated, Orr may hint at tightening. NZD/USD has room to extend its advance, mainly on a break above 0.7100.
💡 The RBNZ Rate Statement contains the explanations of the decision on interest rates and commentary about the economic conditions that influenced it.
📈NZDUSD Chart:
Technicals: Based on the 4hr time frame you can see price has been consolidating between the two levels indicated on the chart. This is a good example of how price ranges back and forth in price before a strong bullish/bearish move is made.
With the Fundamentals stated above we could a potential break out of this ranging level and if so we could then see bullish momentum to the upside of around 0.71788 as our first take profit. Long term. Targets to 0.74588