As widely expected, the RBNZ left the OCR at 1.75%. NZD/USD remains around where it started with little reaction, (a slight bid), to the decision. NZD/USD ticked higher on the RBNZ non-event for market’s meeting, but in the longer-term, this could play out bearish for the bird due to the divergence between the Fed and RBNZ considering that the NZ economy doesn’t warrant a move from the RBNZ until 2020 while the move could be up or down. Currently, the NZD/USD is trading at 0.6664 from a high of 0.6696 and a low of 0.6629. We don’t get an official Monetary Policy Statement today nor a media conference so the press release will have to do as follows, (The 8th of November RBNZ meeting will be followed by a Monetary Policy Statement and press conference): We expect to keep the OCR unchanged into 2020 Direction of our next OCR move could be up or down. Employment is around its sustainable level consumer price inflation remains below the 2 percent mid-point of our target, necessitating continued supportive monetary policy Our outlook for the OCR assumes the pace of growth will pick up over the coming year, assisting inflation to return to the target mid-point. Our projection for the New Zealand economy, as detailed in the August Monetary Policy Statement, is little changed. Robust global economic growth and a lower New Zealand dollar exchange rate is expected to support demand for our exports. Trade tensions remain “¦ increasing the risk that ongoing increases in trade barriers could undermine global growth Domestically, ongoing spending and investment, by both households and government, is expected to support growth. There are welcome early signs of core inflation rising towards the mid-point of the target. Higher fuel prices are likely to boost inflation in the near term, but we will look through this volatility as appropriate. Consumer price inflation is expected to gradually rise to our 2 percent annual target as capacity pressures bite.We will keep the OCR at an expansionary level for a considerable period to contribute to maximising sustainable employment, and maintaining low and stable inflation. “While the FOMC kept its ‘dots’ unchanged, the removal of “accommodative” in describing the policy stance was perceived as mildly dovish, weighing on the USD. “The NZD faces competing tensions here, but believe resistance should hold for now,” analysts at ANZ explained. Support 0.6620 Resistance 0.6720 NZD/USD levels NZD/USD continues to trade below the doji and targets the 0.6620 level. If the bird can’t break the doji’s top at 0.6699 on a pullback, the case will be building for a sustained correction/reversal. However, risks are tilted to the downside targetting the 50% retracement at 0.6624 if the 21-D SMA breaks and price holds below – (A drop back into the downside opens a continuation risk towards 0.6500 that would open up 0.6344 and 0.6306 on the wide). On the upside, the pair needs to break 0.6711 as the 76.4% retracement of the daily downtrend from 0.7393. 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 Market wrap: Fed hikes, dollar mixed – TDS FX Street 4 years As widely expected, the RBNZ left the OCR at 1.75%. NZD/USD remains around where it started with little reaction, (a slight bid), to the decision. NZD/USD ticked higher on the RBNZ non-event for market's meeting, but in the longer-term, this could play out bearish for the bird due to the divergence between the Fed and RBNZ considering that the NZ economy doesn't warrant a move from the RBNZ until 2020 while the move could be up or down. Currently, the NZD/USD is trading at 0.6664 from a high of 0.6696 and a low of 0.6629. We don't get an official… 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.