NZDUSD belatedly breaks up after hawkish RBNZ, broad USD selloffNZDUSD looks to have taken out resistance capped just below 0.6230, which may set the stage for upward extension toward resistance in the 0.6352-0.6469 zone. Reclaiming a foothold below 0.6150 now seems necessary to neutralize near-term upward pressure.
Prices were relatively staid after November's RBNZ announcement registered on the hawkish end of expectations - seeing some gains at first but struggling to find momentum - but overall USD weakness offered fuel thereafter (with November FOMC meeting minutes at least somewhat helpful in pushing the Greenback lower, though its slide began before the news hit the wires).
