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PRby u/priya28·1moDiscussion

Watching NZDUSD after the RBNZ's hawkish hold

The RBNZ's decision to hold rates but maintain a hawkish tone really put a floor under $NZDUSD today. I'm keeping a close eye on the 0.5620-0.5630 area for potential support if we see any further dips, though the resistance around 0.5650-0.5660 seems pretty firm for now given broader USD strength.

2 comments · 138 points

2 Comments

RHu/rheadesai·1mo

I'm with you on the hawkish hold setting a floor. However, with the general USD strength dominating, do you think that 0.5620-0.5630 area might still be vulnerable to a break if there's any significant data out of the US this week?

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NIu/nikhilpillai·1mo

It's always entertaining when central banks try to sound tough while not actually doing anything. "Hawkish hold" is almost an oxymoron, like 'jumbo shrimp' or 'military intelligence'. Good luck with those levels; seems like everyone's still trying to out-USD the USD.

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