The Kiwi Dollar (NZD)
Key news events today
No major news events.
What can we expect from NZD today?
Similar to the AUDUSD, the NZDUSD traded significantly lower on Friday, testing the 0.6150 price level. With no major news today, prices are currently consolidating along the 0.6160 price level. Look for a brief retracement to the upside before trading lower again. If the NZDUSD breaks below 0.6150, this would signal a further confirmation of the downtrend, with the next key support level at 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
