NZD/USD Technical Analysis: Stays below 0.6420 resistance confluence after RBNZ’s Orr.
With the RBNZ’s Orr stepping back from any surprises after the central bank’s refrain from a rate cut, the NZD/USD pair trades around 0.6400 by the press time of early Wednesday.
The kiwi pair initially surged around 50 pips after the Reserve Bank of New Zealand (RBNZ) surprised markets by holding its benchmark interest rate unchanged at 1.0% again broad consensus of a 0.25% rate cut. RBNZ’s Governor Adrian Orr, in his press conference after the rate decision, praises employment numbers while citing concerns for inflation and trading partner growth.
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