Today
-0.13%
5 Days
-1.43%
1 Month
-0.86%
6 Months
-4.49%
Year to Date
-2.41%
1 Year
-2.84%
Opening Price
0.562Previous Closing Price
0.562
In spite of the current correction, a rebound near 0.5664 is expected as long as 0.5600 is still intact
below 0.5600, expect 0.5586 and 0.5577.
In spite of the current correction, a rebound near 0.5664 is expected as long as 0.5600 is still intact
The New Zealand Dollar (NZD) is giving back previous gains against the US Dollar (USD) on Thursday, turning negative on the daily chart, and leaving the immediate bearish trend intact after dropping nearly 1% on Wednesday.
OCBC strategists Sim Moh Siong Christopher Wong highlight that the New Zealand Dollar (NZD) fell after the Reserve Bank of New Zealand (RBNZ) unexpectedly held the OCR at 2.75%. Policymakers still signal tighter policy ahead, with two further hikes expected in December and 1Q27.
The NZD/USD pair attracts some sellers following a modest Asian session uptick to the 0.5635-0.5640 region on Thursday, stalling the previous day's bounce from a two-week low, touched after the Reserve Bank of New Zealand (RBNZ) policy update.
Both central banks behind NZD/USD left their rates alone on Wednesday, and the Reserve Bank of New Zealand (RBNZ) kept 2.75% with a hike priced near 90%. NZD/USD fell below 0.5600 on the RBNZ's decision, the first time under that level since October 15.
NZD/USD falls sharply on Wednesday, losing 0.98% on the day to trade around 0.5625 at the time of writing. The New Zealand Dollar (NZD) faces significant selling pressure after the Reserve Bank of New Zealand (RBNZ) unexpectedly left its benchmark interest rate unchanged.
Standard Chartered’s Bader Al Sarraf and Nicholas Chia note that the RBNZ unexpectedly held its OCR at 2.75% in a narrow 4-3 vote, weighing on the New Zealand dollar despite signals that further tightening remains likely.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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