NZDUSD, What’s(expected) next for this pair
Wednesday the 13th July, the Reserve Bank of New Zealand is expecting the increase of cash rate to 2.5% by increasing the cash rate by 50 points. For the first time in past 2 years NZDUSD finished below .6200. The cause of the fall of NZDUSD is global fears of recession in the recent months and also a hawkish Fed which is behind the surging of USD.
The support of NSZUSD was at .6120c and hopes are on the U.S CPI which will be on Wednesday, expecting the spark of peak inflation and there is a scope for NZDUSD to rally back towards .6350c. If NZDUSD fail to hold onto the support which is .6120c, the next support level is important psychologically to be .6000c
The figures stated as of today 11th July. Past performance is not an indicator for the future performance. This report does not contain any financial advice or any financial product advice/recommendation.