- Kiwi remains the best actor of the G10 on Wednesday in the warmonger RBNZ.
- NZD / USD is heading towards the highest close since February despite the pullback.
The NZD / USD it corrected lower during the US session and fell to 0.7282, after hitting 0.7315 earlier, the highest level since February 26. Kiwi is the best performer on Wednesday among the G10 currencies.
Kiwi jumped across the board after the Reserve Bank of New Zealand (RBNZ) meeting. The central bank surprised with an aggressive tone that sent the NZD / USD sharply higher, breaking key short-term technical levels.
The RBNZ revised the growth figures upwards and somehow validated what market prices are looking for: a first rate hike during the third quarter of next year. “In light of today’s aggressive outlook on RBNZ rates, we have raised the 3-month forecast for NZD / USD very moderately from 0.72 to 0.73,” Rabobank analysts wrote.
Despite the correction of the last few hours, the NZD / USD is still heading towards the highest close since February. A close above 0.7300 should clear the way for more gains. On the other hand, a drop below 0.7250 would alleviate the bullish bias.
The rally in the kiwi pushed the AUD / NZD cross to its lowest level in four months. The ANZD / USD is having the worst day in months, breaking the 1.0700 support area. It bottomed out at 1.0623, and remains under pressure, close to the ground.
Technical levels
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