RBNZ has decided to maintain OCR at 0.25% as well as the Large Scale Asset Purchase program (LSAP) at NZD 100 billion.
The Kiwi shot up almost 50 pips to session high following the RBNZ announcement. The market had generally expected dovish sentiments, but the RBNZ announcement came out otherwise.
Continuous trading below the 0.6640 levels (50 day SMA) can push the NZD/USD pair towards 0.6555, an ascending trend line from June 30.
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