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RBNZ interest rate decision is scheduled for Thursday and majority of analysts expect a 25 basis point rate cut. New Zealand economy have shown signs of slowdown and as a result CPI failed to go up and higher New Zealand Dollar is hurting export sector. Keeping this in mind I am expecting a rate cut and dovish tone from RBNZ.
From technical perspective, 0.7300 level remain a valid resistance level, whereas on the downside 0.6970 level is providing support for now. So the best option would be to look for trade opportunities around these levels.
From technical perspective, 0.7300 level remain a valid resistance level, whereas on the downside 0.6970 level is providing support for now. So the best option would be to look for trade opportunities around these levels.
