The Reserve Bank of New Zealand left rates unchanged at today’s meeting but released projections indicating that cash rate may rise in the second half of 2022. NZD caught a bid following the decision and continues to strengthen against other major currencies during European trading hours.
NZDUSD is soaring following RBNZ interest rate decision. Pair is currently testing resistance at 0.7308 which coincides with the upper limit of the 1:1 structure. Should a break higher occur, then upward move may accelerate towards next resistance at 0.7465. On the other hand, if sellers manage to regain control then support at 0.7241 may be at risk. Source: xStation5
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