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NZD / USD: RB New Zealand or the Fed? _18/03/2016

Technical analysis and trading recommendations - https://fxpcm.com/fx/nzd-usd-rb-new-zealand-or-fed-18032016

Despite a significant decline in the pair NZD / USD on the eve of the Fed's decision, following the events in financial markets have strengthened sharply couple.
After last Wednesday RB New Zealand unexpectedly cut interest rates by 0.25% to 2.25%, the New Zealand dollar fell across the market.

RBNZ went to such a move, because fears of further deterioration of the global economic outlook and the decline in inflation expectations in most of New Zealand.
Then, on Tuesday at the last auction of the dairy price index for dairy products fell by 2.9%. The pair NZD / USD on the news lost another 40 points.

On Thursday, March 16, after the Fed's decision not to raise interest rates in the US pair NZD / USD rose sharply. Follow the Fed comments landslides US dollar throughout the market.

The Fed has lowered the forecast of further tightening in US monetary policy. For two days the pair NZD / USD has strengthened by 250 points and reached a significant resistance level 0.6860.

Today, at the end of the trading week, most likely decline in the pair NZD / USD on profit-taking on long positions for the pair. By the close of the trading day is quite possible to fall to the level of 0.6770. Further dynamics of the pair NZD / USD will be determined next week

Friday, 18 Mar, 2016 / 11:33

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Source : http://fxpcm.com/fx/nzd-usd-rb-new-zealand-or-fed-18032016

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