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12 Mar 2014
NZD/USD rallies to multi-month highs at 0.8525
FXStreet (San Francisco) - The New Zealand dollar is rallying against the US dollar following the RBNZ decision to raise its interest rate to 2.75% as well as a hawkish stance.
According to the statement the economy has momentum and growth is becoming broad-based. RBNZ raises March 2015 GDP growth to 3.2% from 2.8%.
The NZD/USD firstly declined to 0.8430, but the pair bounced at the 200-hour MA level to trade now at 0.8525, highest since October 22. The pair is trading flat on the day after recovering all previous losses. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart.
MACD, CCI and Momentum are pointing to the north while the stochastic is bearish also in the 15 minutes timeframe. Main resistance is seen at 0.8550/60.
According to the statement the economy has momentum and growth is becoming broad-based. RBNZ raises March 2015 GDP growth to 3.2% from 2.8%.
The NZD/USD firstly declined to 0.8430, but the pair bounced at the 200-hour MA level to trade now at 0.8525, highest since October 22. The pair is trading flat on the day after recovering all previous losses. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart.
MACD, CCI and Momentum are pointing to the north while the stochastic is bearish also in the 15 minutes timeframe. Main resistance is seen at 0.8550/60.