The Kiwi Dollar (NZD)
Key news events today
No major news events.
What can we expect from NZD today?
The NZDUSD continues to consolidate between the price range of 0.6280 and 0.6330 with no clear directional bias. While some upside could be anticipated, as the AUDUSD trades higher, look for the NZDUSD to complete the retracement to the upside before trading lower again. If the price action on the NZDUSD indicates a rejection of the upside, look for the NZDUSD to break below the 0.6280 price level to signal further downside with the next key support area at the round number price level of 0.62.
Central Bank Notes:
Cash rate stands at 4.25%
Central bank is likely to continue with the current path of rate adjustment
Next meeting is on 21 February 2023
Next 24 Hours Bias
Weak Bearish
