The Kiwi Dollar (NZD)
Key news events today
No major news events.
What can we expect from NZD today?
Overnight, the NZDUSD failed to sustain a move higher as the strength of the DXY dragged prices lower. As the NZDUSD attempts to break below the 0.62 price level, look for a strong breakout to the downside if the round number support level is breached. Further strength on the DXY could see the NZDUSD trade beyond the 0.62 support level, down toward the next key support level of 0.6075.
Central Bank Notes:
Cash rate stands at 4.75%
Central bank is likely to continue with the current path of rate adjustment
Next meeting is on 5 April 2023
Next 24 Hours Bias
Weak Bearish
