The dust settles from the RBNZ decision

It's been 24 hours since the RBNZ opted to hold rates. But it wasn't just that rates were left unchanged, it was that Wheeler indicated he's not in any hurry to cut in August and might not lower rates at all.

Technically, the level that NZD/USD needed to hold was the May high of 0.7054 and with the minutes winding down in trading, it's comfortably above at 0.7100.

To me, that chart is almost as good as it gets. There is a lot of open sky above and it came on major fundamental news.

Maybe even better is AUDNZD as it breaks the November low.