EXNESS - Analytics

    EXNESS

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    NZDUSD: growth despite the decrease in New Zealand's key interest rate

    Buy on a level breakthrough of 0.6652 with 0.6768 target. Stop loss = 0.6602.

    Reason for the trading strategy

    The Reserve Bank of New Zealand lowered its official interest rate by 25 bps to 3%, although the number of market participants conceded that it would drop to 2.75%. The decision on the monetary policy easing was made against the background of low economic and inflation growth rates, which are below the target range of 1-3%. Graeme Wheeler, the head of the RBNZ, noted that the New Zealand dollar has declined significantly since April, having signaled the proximity of the current exchange rate of the Kiwi to its fundamental value.
     

    NZDUSD, H4

    NZDUSD


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