Open trading account 
Majority of analysts expect RBNZ to keep interest rate unchanged, however I am expecting dovish comments with regards to inflation and economic growth.
New Zealand's rolling annual inflation rate has been below 1 per cent for seven consecutive quarters. The Reserve Bank is mandated to set its monetary policy to keep inflation between 1 and 3 per cent with the focus on a mid-point of 2 per cent. At 0.2 per cent for the quarter and 0.4 per cent for the year to the end of March it was slightly higher than the expectations of many economists but remained historically low.
From technical perspective 0.7050 held as resistance on NZDUSD and price dropped around 200 pips in last few days. I am expecting range bound price action on this pair between 0.7050 resistance and 0.6820 support and as such the best option would be to wait and observe price action around extremes of these levels and look for a clean breakout before getting into a trade.
New Zealand's rolling annual inflation rate has been below 1 per cent for seven consecutive quarters. The Reserve Bank is mandated to set its monetary policy to keep inflation between 1 and 3 per cent with the focus on a mid-point of 2 per cent. At 0.2 per cent for the quarter and 0.4 per cent for the year to the end of March it was slightly higher than the expectations of many economists but remained historically low.
From technical perspective 0.7050 held as resistance on NZDUSD and price dropped around 200 pips in last few days. I am expecting range bound price action on this pair between 0.7050 resistance and 0.6820 support and as such the best option would be to wait and observe price action around extremes of these levels and look for a clean breakout before getting into a trade.
