EURNZD: RBNZ Rate Cut Sparks Volatility in NZD
Today, the Reserve Bank of New Zealand (RBNZ) lowered interest rates by 25 basis points to 3.25%, down from 3.5% last month.
Initially, the New Zealand dollar (NZD) showed weakness, but the sentiment quickly shifted as the rate cut was accompanied by a surprisingly hawkish statement during the RBNZ Press Conference.
As a result, EURNZD plummeted by nearly 180 pips during the press conference, reaching a low of 1.8920.
This level triggered profit-taking, leading to a corrective move that retraced exactly 50% of the initial decline from 1.9100 to 1.8920.
Looking ahead, EURNZD may be poised for another bearish wave around this zone following a brief consolidation.
Targets:
🎯 1.8920 🎯 1.8850
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Today, the Reserve Bank of New Zealand (RBNZ) lowered interest rates by 25 basis points to 3.25%, down from 3.5% last month.
Initially, the New Zealand dollar (NZD) showed weakness, but the sentiment quickly shifted as the rate cut was accompanied by a surprisingly hawkish statement during the RBNZ Press Conference.
As a result, EURNZD plummeted by nearly 180 pips during the press conference, reaching a low of 1.8920.
This level triggered profit-taking, leading to a corrective move that retraced exactly 50% of the initial decline from 1.9100 to 1.8920.
Looking ahead, EURNZD may be poised for another bearish wave around this zone following a brief consolidation.
Targets:
🎯 1.8920 🎯 1.8850
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Dagangan ditutup: sasaran tercapai
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.