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NZD/USD held lower post-FOMC, last $0.6745,....>

KIWI
KIWI: NZD/USD held lower post-FOMC, last $0.6745, with the RBA's latest SoMP
adding some modest pressure to the rate, in spill over from across the Tasman.
Cross hit a low of $0.6731 overnight.
- Having witnessed a 300+ pip rise on the recent uptrend, NZD/USD failed to
consolidate above the NZ$0.6800 level Thursday, suggesting bullish exhaustion
could be setting in (rate did touched knee-jerk highs of $0.6814 post-RBNZ
before retracing lower).
- Bulls continue to look for a close above $0.6800, with bears needing a move
back below the Nov 02 high at $0.6690.
- NZ docket is relatively thin next week, so flow may be driven by broader risk
sentiment & major economic releases from Australia.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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