NZD/USD: on the eve of the RBNZ meeting – Analytics & Forecasts – 4 October 2022

The weakening of the US dollar results in NZD/USD moving “north”, and in the event of a break of the important short-term resistance level 0.5729 and the local resistance level and current high of 0, 5757, NZD/USD growth may continue to rise. at resistance levels 0.5945, 0.6010. Higher is unlikely given the global downtrend in NZD/USD.

And today, volatility in the NZD/USD pair may rise again (at 14:00 GMT), which will be associated with the release of important macro statistics for the US and New Zealand, as well as at 13:00, 1:15 p.m., 3:00 p.m., 5:00 p.m. (at this time, speeches by representatives of the management of the Fed and the ECB are scheduled; for more details, see The main economic events of the week 03.10.2022 – 09.10.2022).

Overall, the bearish dynamics of NZD/USD prevails, while the pair remains in the zone of a long-term bear market, below the key resistance levels 0.6700, 0.6390.

Support levels: 0.5693, 0.5680, 0.5590, 0.5565, 0.5470

Resistance levels: 0.5729, 0.5757, 0.5900, 0.5945, 0.6010, 0.6065, 0.6280, 0.6390, 0.6480, 0.6700

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