5/25/2021 7:16:21 AM GMT
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By FXStreet Insights Team
The Reserve Bank of New Zealand (RBNZ) is on the market’s radar with another policy meeting coming up on Wednesday, May 26. There is a strong likelihood that macro forecasts would be getting favourable updates. Taper talk is watched given the RBNZ has been slowing down on its LSAP bond purchases of late, but it could well be a supply adjustment. Technically, NZD remains in consolidation with momentum gauges staying muted. This keeps an inverse-head-and-shoulders pattern still in play, where declines would find support unless the 200-DMA at 0.6993 and the prior 0.6946 craters, Benjamin Wong, Strategist at DBS Bank, briefs.