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24 Apr 2013
Forex: NZD/USD spikes to the upside after RBNZ
FXstreet.com (Barcelona) - NZD/USD is last at 0.8451, off recent double weekly high at 0.8462, after it has spiked to the upside following RBNZ rate statement, released just minutes ago. The pair is slightly in the positive for the week, bouncing from yesterday's weekly low at 0.8360.
The NZ central bank is expecting to keep rates unchanged for 2013, with inflation expectations to start building up next year to 2%. According to RBNZ governor, the NZD remains overvalued, the statement said. “No surprises in the decision or in his comments,” notes ForexLive editor Eamonn Sheridan.
Immediate resistance to the upside for NZD/USD shows at recent session and Monday's high 0.8462, followed by Friday's highs at 0.8491, and April 17 highs at 0.8509. To the downside, closest support lies at Monday's lows 0.8395, followed by yesterday's 3-week lows at 0.8360, and Feb 07 lows at 0.8289.
The NZ central bank is expecting to keep rates unchanged for 2013, with inflation expectations to start building up next year to 2%. According to RBNZ governor, the NZD remains overvalued, the statement said. “No surprises in the decision or in his comments,” notes ForexLive editor Eamonn Sheridan.
Immediate resistance to the upside for NZD/USD shows at recent session and Monday's high 0.8462, followed by Friday's highs at 0.8491, and April 17 highs at 0.8509. To the downside, closest support lies at Monday's lows 0.8395, followed by yesterday's 3-week lows at 0.8360, and Feb 07 lows at 0.8289.