NZD/USD pressing on lower, losing 0.86 territory

FXStreet (Guatemala) - NZD/USD is trading at 0.8568, down -0.06% on the day, having posted a daily high at 0.8574 and low at 0.8568.

NZD/USD Expectations the RBNZ will signal a pause in June have been growing and likely weighing on NZD/USD this week. Imre Speizer at Westpac Banking Corporation ABN explained the RBNZ’s MPS on 12 June will almost certainly increase the OCR by 25bp on 12 June but will probably also reduce its interest rate forecast, he explained, due to weak inflation and the high NZD, and also signal a pause in the tightening cycle. This is expected by markets, although any implied lengthy pause would be a negative surprise for NZD/USD.

NZD/USD Levels

Spot is presently trading at 0.8569, and next resistance can be seen at 0.8573 (Daily Open), 0.8574 (Daily High), 0.8577 (Daily Classic S3), 0.8587 (Hourly 20 EMA) and 0.8592 (Weekly Classic S1). Next support to the downside can be found at 0.8568 (Daily Low), 0.8561 (Yesterday's Low), 0.8555 (Weekly Classic S2), 0.8539 (Monthly Low) and 0.8503 (Weekly Classic S3).