From TradingView · · 40s
NZD/USD Rises as RBNZ Hike Looms
NZD/USD climbs 0.25% toward 0.5700 ahead of RBNZ rate hike.
In brief
NZD/USD climbs 0.25% toward 0.5700 ahead of RBNZ rate hike. NZD/USD rose 0.25% to 0.5700 as markets anticipated RBNZ's 25-bp OCR hike to 3.00%. Originally reported by TradingView.
NZD/USD Rises
NZD/USD traded higher on Tuesday, gaining roughly 0.25% toward 0.5700 as markets looked ahead to Wednesday’s RBNZ decision.
RBNZ Expected to Hike
The central bank is widely expected to raise the Official Cash Rate by 25-bps to 3.00% after third-quarter inflation came in at 3.7%.
Key Resistance at 0.5700
NZD/USD has put together a respectable rebound from the 0.5585 floor but is running directly into the first meaningful resistance zone around 0.5700.
The bottom line
NZD/USD rose 0.25% to 0.5700 as markets anticipated RBNZ's 25-bp OCR hike to 3.00%.
