New Zealand central bank decision due at the top of the hour
The New Zealand dollar is up 35 pips to 0.6781 ahead of the RBNZ decision at 2000 GMT (3 pm ET).
The kiwi is underperforming its commodity cousins for two reasons:
- Soft commodities like dairy are trailing metals and crude oil
- RBNZ apprehension
Eamonn wrote a preview of the decision. Here are some levels to watch.
On the upside:
- Session high 0.6810
- Friday's high (a two month high) 0.6821
- Downtrend resistance 0.6869
- Oct high 0.6897
Support:
- US low - 0.6759
- Asia-Pacific low 0.6716
- 200-dma 0.6632
- Uptend 0.6621
- Feb 29 low 0.6566
