Kiwi and Aussi dollar slip on cautious RBNZ while USD/JPY remains bid
Outlook on AUD/USD, NZD/USD and USD/JPY amid less hawkish RBNZ.
NZD/USD has taken a hit on cautious RBNZ
The Kiwi dollar NZD/USD dropped like a stone as New Zealand's central bank signaled a slightly less aggressive stance on rate hikes with the 200-day simple moving average (SMA) at $0.6074 representing a possible downside target.
Below it lies a major support zone at $0.6063 to $0.6039 which consists of the January and current February lows and may once again support the cross. Minor resistance sits at the 9 February high at $0.6158.
AUD/USD's retracement lower gains traction
AUD/USD drop through the 200-day SMA at $0.6561 is taking it towards its mid-February low at $0.6495. As long as this level doesn't give way, the mid-February advance remains intact.
The $0.6610 to $0.6631 late January to early February highs and 55-day SMA aren't expected to be reached in the next few days, though.
USD/JPY stays bullish while above ¥149.54
USD/JPY still trades in low volatility above the minor psychological ¥150.00 mark which it revisited on Tuesday. The four-month high at ¥150.88 remains in view. Above it the October-to-November record highs can be spotted at ¥150.91-94.
Only if the mid-February ¥149.54 low were to be fallen through, would the ¥148.89-80 support zone be back in the frame.
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