New Zealand Dollar surges sharply after RBNZ kept monetary policy unchanged, but signaled that a rate hike could occur as soon as in September 2022. Governor Adrian Orr also said he felt comfortable using OCR projection as guidance. Though, the projections are “very highly conditional”, and will only be realized if economy pans out as expected.
NZD/USD break through 0.7304 resistance today and resumes the rally from 0.6942. Notable support was seen from 55 day EMA which affirms near term bullishness. Further rise is now expected as long as 0.7153 support holds. Retest of 0.7463 high should be seen next. Break there will resume larger up trend from 0.5467.
NZD/JPY breaks through 79.40 resistance as up trend form 59.49 resumes. Near term outlook will now remain bullish as long as 77.91 support holds. Next target is 61.8% projection of 68.86 to 79.19 from 75.61 at 81.99.
