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13 Jun 2013
NZD/USD dips below 0.7950 after RBNZ leaves rates unchanged
FXstreet.com (Barcelona) - NZD/USD is last at 0.7948 off recent session lows at 0.7927, retracing from late London fresh weekly highs at 0.8024. The pair is still up +0.73% so far for the week, even though it opened Monday with a gap lower and printed Tuesday fresh 1-year lows at 0.7760.
The Kiwi has dipped to mentioned recent session lows once the RBNZ has announced will keep rates unchanged at 2.5%. The central bank still believes the currency is overvalued, and considers positive the recent decline in the exchange rate. For the interest rate, expectations are for 2.5% to remain until end of year. “We expect to keep the OCR unchanged through the end of the year,” RBNZ said.
Immediate support to the downside for NZD/USD lies at recent session lows/Monday's highs 0.7926, followed by past Thursday's lows at 0.7900, and yesterday's/Friday's lows at 0.7863/56. To the upside, closest resistance shows at June 04 lows 0.7965, followed by recent session highs at 0.8008, and yesterday's weekly highs/Friday's London session highs at 0.8020/4.
The Kiwi has dipped to mentioned recent session lows once the RBNZ has announced will keep rates unchanged at 2.5%. The central bank still believes the currency is overvalued, and considers positive the recent decline in the exchange rate. For the interest rate, expectations are for 2.5% to remain until end of year. “We expect to keep the OCR unchanged through the end of the year,” RBNZ said.
Immediate support to the downside for NZD/USD lies at recent session lows/Monday's highs 0.7926, followed by past Thursday's lows at 0.7900, and yesterday's/Friday's lows at 0.7863/56. To the upside, closest resistance shows at June 04 lows 0.7965, followed by recent session highs at 0.8008, and yesterday's weekly highs/Friday's London session highs at 0.8020/4.