EURNZD:RBNZ Rate Cut Sparks Volatility in NZD

28 mag

EURNZD: RBNZ Rate Cut Sparks Volatility in NZD

Today, the Reserve Bank of New Zealand (RBNZ) lowered interest rates by 25 basis points to 3.25%, down from 3.5% last month.

Initially, the New Zealand dollar (NZD) showed weakness, but the sentiment quickly shifted as the rate cut was accompanied by a surprisingly hawkish statement during the RBNZ Press Conference.

As a result, EURNZD plummeted by nearly 180 pips during the press conference, reaching a low of 1.8920.
This level triggered profit-taking, leading to a corrective move that retraced exactly 50% of the initial decline from 1.9100 to 1.8920.

Looking ahead, EURNZD may be poised for another bearish wave around this zone following a brief consolidation.

Targets:
🎯 1.8920 🎯 1.8850

You may find more details in the chart!
Thank you and Good Luck!

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29 mag

Trade chiuso: obiettivo raggiunto