FXStreet (Guatemala) – NZD/USD has been well supported, despite the outlook for interest rate sin NZ and the US and the divergence between the two Central Banks.
We recently got the details of the FOMC statement yesterday and it appears that the economy is on track to warrant a rate hike before the year is out, potentially steeping near term yields and supporting the greenback. Meanwhile, over the pacific, the RBNZ is concerned about headwinds from China and East Asia while the FOMC removed such remarks from this FOMC statement time around.
Full text October FOMC statement
Today, we await the ANZ activity outlook and business confidence for October before the BoJ that has the potential to liven things up later on.
NZD/USD levels
Technically, 0.67 is being tested to the upside, but the recovery is shallow and lacks drivers or momentum. Next support to the downside below the 0.66 handle comes as 0.6580. The 200 DMA at 0.7009 weighs on the price bird, despite a break above the 55 DMA at the start of October.
(Market News Provided by FXstreet)