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Muted Start On Monday, RBNZ Rate Decision Headlines Week

NZD

NZD/USD prints at $0.6255/60, little changed in a muted start to Mondays trading.

  • The pair see-sawed around the 200-Day EMA ($0.6269) on Friday in a narrow range with little follow through on moves in the European and NY sessions.
  • Bulls first look to break $0.6306, Mar 20 high, to target 2023 highs at $0.6538. Bears look to target 2023 lows at $0.6085.
  • AUD/NZD prints at $1.0685/95, the pair is holding beneath the $1.07 handle. Bears look to first break 2023 lows at $1.0667, bulls look to break the 20-Day EMA at $1.0748.
  • Over the weekend OPEC+ made a shock million-barrel cut to oil production abandoning previous assurances it would hold supply steady.
  • The RBNZ cash rate decision provides the highlight this week, the Bloomberg survey looks for a 25bp hike in the OCR to 5%.
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