ByJin Dao Tai
AUG 25, 2021
Overall, NZD/USD is trending downwards. Recently, NZD/USD trended up into the resistance zone of 0.69500.
Yesterday, Reserve Bank of New Zealand Assistant Governor Christian Hawkesby clarified that the central bank’s decision on no increasing interest rates last week was due to communication challenges and not economic risks. He also said that the committee members were considering on an interest rate hike of 0.50%.
Currently, NZD/USD is testing the resistance zone of 0.69500 and the next support zone is at 0.67900.
Look for short-term buying opportunities of NZD/USD if it breaks the resistance zone of 0.69500.
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