NZD/USD still bullish, RBNZ on focus – UOB

Analysts at UOB Group have reiterated the bullish perspective for the Kiwi dollar ahead of the RBNZ decision due tomorrow.

Key Quotes

“Against our expectation, NZD continues to march higher despite overbought conditions. However, we continue view the current up-move as untenable (at least for today) and a move above the key mid-term resistance at 0.7000 is not expected”.

“There is no change to our bullish NZD view and we continue to expect a move to 0.7000. A break above this level would shift the focus towards the year-to-date high of 0.7055”.