Nzdusd - page 11
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0.78040 and will keep falling
The Pound versus the Dollar rallied for today, but the 200 period exponential moving average on the 4 hour chart has acted as a good resistance for the pair.
The Kiwi is very undecided at current levels, with some volatility in both directions.
Good rally on the Kiwi, but it has found some resistance at the 55 EMA 4 hour chart, around the 0.7743.
Bearish correction on the NZDUSD, it has dropped below the 0.7800 level.
The Kiwi has formed a bearish channel on the daily chart and it looks like it wants to visit the lower boundary of the channel.
The NZDUSD keeps oscillating around the 0.7800 level, from his point the pair may head in any direction.
The NZDUSD has suffered a big drop, but a pullback correction may be on the way, therefore be attentive.
NZD/USD: Kiwi Plunges 90 Pips After RBNZ Rate Statement
The Reserve Bank of New Zealand's (RBNZ) cash-rate statement caused the so-called kiwi dollar to drop sharply on Thursday, with the bank maintaining its stance that the currency is too high, but switching to a more neutral stance on rates.
The NZD/USD cross rate was down 0.91% at $0.7377 less than 10 minutes after the RBNZ delivered its rate statement, from $0.7450 before the release.
The RBNZ held the cash rate at 3.5% on Thursday, as expected.
"In the current circumstances, we expect to keep the OCR on hold for some time. Future interest rate adjustments, either up or down, will depend on the emerging flow of economic data," the cash-rate statement read.
"The high exchange rate, low global inflation, and falling oil prices are causing traded goods inflation to be very weak. Non-tradables inflation remains moderate, despite buoyant domestic demand and an improving labour market," RBNZ Governor Graeme Wheeler said on Thursday. "Headline annual inflation is expected to be below the target band through 2015, and could become negative for a period before moving back towards 2 percent, albeit more gradually than previously anticipated."
source
Good pullback on the Kiwi, but we must pay attention to the 0.73 level, because it may act as a good resistance.