0.6780 comes as next downside target meeting the lows of mid-Nov 2017. Traders are more concerned about the pending RBNZ. NZD/USD has been robust in light of the pending threats of a global trade war and prospects of a global recession. However, the pair dropped from 0.6920 to 0.6885 and currently trades at 0.6889 at the time of writing, supported by the rising 100-hr SMA at 0.6885. NZD/USD traders are more concerned about the pending RBNZ meeting this week where, although no change in message from the RBNZ in expected, the outlook for the OCR is what matter most, and that is to say, the RBNZ will be scrutinised for hints as to whether they will be lifting rates in the summer of next year of the autumn. RBNZ will wait for inflation to rise “The RBNZ will wait for inflation to rise in a consistent way, and this will take some time in this environment,” according to analysts at ANZ who argued that there are risks on both sides of the ledger: “On balance, we think cost pressures – especially wage costs – will push inflation higher and that the OCR will eventually rise. That said, with forecast hikes sitting very late in the economic cycle, there are decent odds they may not happen at all.” NZD/USD levels Support is located at 0.6820 while resistance is located at 0.6980. 0.6780 comes as next downside target meeting the lows of mid-Nov 2017. On the upside, albeit not favoured, above 0.6980 lies the 50-D SMA at 0.7002 and then 0.7060 guarding space en route to 0.7440 as the January tops on the wide. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next France’s Le Mare: Europe will respond to US tariffs if provoked FX Street 5 years 0.6780 comes as next downside target meeting the lows of mid-Nov 2017. Traders are more concerned about the pending RBNZ. NZD/USD has been robust in light of the pending threats of a global trade war and prospects of a global recession. However, the pair dropped from 0.6920 to 0.6885 and currently trades at 0.6889 at the time of writing, supported by the rising 100-hr SMA at 0.6885. NZD/USD traders are more concerned about the pending RBNZ meeting this week where, although no change in message from the RBNZ in expected, the outlook for the OCR is what matter most,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.