RBNZ holds the OCR at 2.50 % by maintaining NZD currency as the second highest interest rate among the major currencies after AUD. Capital inflow will continue to strengthen NZD in the market driven by the continuing the flow of funds invested by the global investors into NZD currency and NZD-denominated interest bearing securities (over-demand).
After strongly defended at lower currency band (0.7450), NZD/USD moved to upward direction/up-trending and will continue to the estimated upper currency band (0.8450) for 1000 PIPs exchange rate target zone. The estimated central currency band is 0.8300 and the pair is currently at 0.7825 (See: Long Position on NZD/USD). At 0.8300, NZD/USD may under pressure to downward temporary before the pair resumed to move to upward direction/up-trending to visit the target.
After strongly defended at lower currency band (0.7050), NZD/CHF moved to upward direction/up-trending and will continue to move to visit the estimated upper currency band (0.7750) for 750 PIPs exchange rate target zone. The central currency band is estimated at 0.7600 at which level the NZD/CHF may under pressure to downward before resumed to move to upward diection/up-trending to visit the target. The pair is currently at 0.7450 near the central currency band.
After strongly defended at lower currency band (58.50), NZD/JPY moved to upward direction/up-trending and will continue to move to upward to visit the estimated upper currency band (69.50) for 1000 PIPs exchange rate target zone. The central currency band is estimated at 67.50 and the pair is currently at 62.20 (See: Long Position on NZD/JPY). At 67.50, the pair may under pressure to downward before resumed to upward direction to visit the target.
After strongly defended at upper currency band (1.6950), EUR/NZD moved to downward direction/down-trending and will continue to move to downward to visit the estimated lower currency band (1.5600) for 1350 PIPs exchange rate target zone. The central currency band is estimated at 1.5800 at which level the pair may rebound to upward before resumed to downward direction/down-trending to visit the lower currency band. The pair is currently at 1.6120.
After strongly defended at upper currency band (2.1000), GBP/NZD moved to downward direction/down-trending and will continue to move to downward to visit the estimated lower currency band (1.8800) for 2200 PIPs exchange rate target zone. The pair is currently at 1.9850. The estimated central currency band is 1.9200 at which level the pair may rebound to upward before resumed to downward direction/down-trending to visit the lower currency band.
AND/NZD will continue to range bound defendant to the differential of capital inflow to AUD and NZD currencies and their denominated interest bearing securities. Both of them are high yielding currencies which are the primary target for carry traders and macro traders.
After strongly defended at lower currency band (0.7450), NZD/USD moved to upward direction/up-trending and will continue to the estimated upper currency band (0.8450) for 1000 PIPs exchange rate target zone. The estimated central currency band is 0.8300 and the pair is currently at 0.7825 (See: Long Position on NZD/USD). At 0.8300, NZD/USD may under pressure to downward temporary before the pair resumed to move to upward direction/up-trending to visit the target.
After strongly defended at lower currency band (0.7050), NZD/CHF moved to upward direction/up-trending and will continue to move to visit the estimated upper currency band (0.7750) for 750 PIPs exchange rate target zone. The central currency band is estimated at 0.7600 at which level the NZD/CHF may under pressure to downward before resumed to move to upward diection/up-trending to visit the target. The pair is currently at 0.7450 near the central currency band.
After strongly defended at lower currency band (58.50), NZD/JPY moved to upward direction/up-trending and will continue to move to upward to visit the estimated upper currency band (69.50) for 1000 PIPs exchange rate target zone. The central currency band is estimated at 67.50 and the pair is currently at 62.20 (See: Long Position on NZD/JPY). At 67.50, the pair may under pressure to downward before resumed to upward direction to visit the target.
After strongly defended at upper currency band (1.6950), EUR/NZD moved to downward direction/down-trending and will continue to move to downward to visit the estimated lower currency band (1.5600) for 1350 PIPs exchange rate target zone. The central currency band is estimated at 1.5800 at which level the pair may rebound to upward before resumed to downward direction/down-trending to visit the lower currency band. The pair is currently at 1.6120.
After strongly defended at upper currency band (2.1000), GBP/NZD moved to downward direction/down-trending and will continue to move to downward to visit the estimated lower currency band (1.8800) for 2200 PIPs exchange rate target zone. The pair is currently at 1.9850. The estimated central currency band is 1.9200 at which level the pair may rebound to upward before resumed to downward direction/down-trending to visit the lower currency band.
AND/NZD will continue to range bound defendant to the differential of capital inflow to AUD and NZD currencies and their denominated interest bearing securities. Both of them are high yielding currencies which are the primary target for carry traders and macro traders.
