NZD/USD trading below the support zone of 0.66 ahead of RBNZ decision later this week, the investors waiting for further insights on the views of the central bank on negative interest rates and economic forecasts.
Important Levels to watch this week:
Support: 0.6550 and 0.6510
Resistance: 0.6630 and 0.6690
It will be interesting but I believe the RBA will leave interest rates on hold as I am sure the kiwis go to the polls next month. Mighty mouse Ardern won’t want to see negative impact on the currency prior to an election.
NZD/USD found the support near my S2 area and rebounded back to pivot level 0.6550. Any break below 0.6520 will open doors to 0.65 then 0.6460. On the upper side, the immediate resistance at 0.6570/80.
