Home Event Reserve Bank of New Zealand may show tendency towards softer policy

Reserve Bank of New Zealand may show tendency towards softer policy

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Tool: AUDNZD

Position: Buy

(1 ratings, average: 5,00 of 5)

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It is expected that the cental bank of New Zealand will show trend towards smoother policy once it delivers its final verdict during meeting on Thursday. It is probable that the Reserve Bank of New Zealand will signal that the next move may become either an increase, or a decrease of the key interest rate. Recent macroeconomic data show that, in general, the perspectives of New Zealand’s economy are optimistic, however, the high level of household debt and infected cattle may force the regulator to be more reserved in his speeches regarding the GDP growth pace. Investors are carefully observing NZD and the currency will remain under pressure up until the meeting.

Let’s take a look at technical analysis for AUD/NZD.

Time H4.

5-wave structure for the purchase has been formed.

We recomend to search for long position’s opening opportunities in the entrypoint above the construction treadline.

The fixation has take pace before and the purchase from the current levels is relevant.

Take-profit is set at 1.0830.

Profit target is around 80 points.

Stop loss is fixed at 1.0654.

We recomend to start breakeven at the level of 1.0813.

If the price fails to be fixed and takes a turn, we will look for new long position’s opening opportunities for the pair with a target to buy up to 1.0830.

Result

80 pips

800 dollars

Funds deposit and withdrawal

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Reserve Bank of New Zealand may show tendency towards softer policy

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