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13 Mar 2014
NZD/USD breaks above Oct 2013 high, 0.8585 next target
FXStreet (Bali) - The NZD/USD is extending Wednesday's RBNZ-driven gains by breaking above the 0.8525 to touch a new 9-month high at 0.8563.
After the anticipated 0.25% rate hike to 2.75% by the RBNZ, with the statement more hawkish-than-expected, as Wheeler sees up to 125 basis points of hikes this year and 200 points in two years, the Kiwi was boosted once again as it tracks the Aussie higher following a very strong jobs number in Australia.
According to Jim Langlands, Founder at FXCharts: "The pair is now heading towards the April 13 2013 high at 0.8585 and potentially to the 7 Apr 2013 high at 0.8675." On the downside, any setback should find plenty of buying interest ahead of 0.85.
After the anticipated 0.25% rate hike to 2.75% by the RBNZ, with the statement more hawkish-than-expected, as Wheeler sees up to 125 basis points of hikes this year and 200 points in two years, the Kiwi was boosted once again as it tracks the Aussie higher following a very strong jobs number in Australia.
According to Jim Langlands, Founder at FXCharts: "The pair is now heading towards the April 13 2013 high at 0.8585 and potentially to the 7 Apr 2013 high at 0.8675." On the downside, any setback should find plenty of buying interest ahead of 0.85.