NZD/CHF – Dovish Rate Hike By RBNZ

Verified Person
· View 626


ByGim Hong Lee

 OCT 6, 2021

  • RBNZ hiked rate by 0.25%
  • Potential downside below 0.64 handle

NZD/CHF – Dovish Rate Hike By RBNZChart 1: NZD/CHF D1 chart

During the monetary policy decision announcement earlier today, the Reserve Bank of New Zealand (RBNZ) hiked interest rate by 0.25% in an attempt to maintain low inflation and support maximum sustainable employment. However, since this is a dovish hike, the New Zealand dollar strengthened for a short period of time before losing back its gains and weakened further.

At the moment, NZD/CHF is trading around the 0.64 handle. With the dovish rate hike carried out by the RBNZ, look for selling opportunities of NZD/CHF if it breaks below 0.64 handle.

Trade Setup for NZD/CHF (D1)

Sell Stop at 0.6370

Upcoming major news that may impact price movement of NZD/CHF

21 October – New Zealand CPI q/q data release at 0545 (GMT+8)

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

If you like, reward to support.


No older comments, be the first to grab the sofa.