NZDUSD Attempts a Rebound from 4-Year Lows

NZDUSD trading 0.12% higher at 0.6265 as the pair rebound from 4-year lows. Kiwi is under pressure after the central bank delivered a 50 bps interest rate cut that surprised the markets. NZDUSD traders awaiting the RBNZ decision on September 25th, with analysts forecasting that the central bank will leave the OCR unchanged at 1.00%.

NZDUSD attempts to rebound away from 4-year lows as the pair on Friday stopped at 0.6254. On the upside, immediate resistance stands 0.6348 today’s high, and then at 0,6391 yesterday’s high. On the upside, resistance stands at 0.6276 today’s high while extra pressure will be met at 0.6304 the high from Friday. On the downside, immediate support stands at 0.6254 daily low and 4-year low then at 0.6235 the lows from September 2015; NZDUSD short term outlook is bearish, and a visit down to 2015 lows looks possible.Don’t miss a beat! Follow us on Telegram and Twitter.

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