NZD/USD: quietly awaits a catalyst in stuck in range

By FXStreet NZD/USD is currently trading at 0.6755 with a high of 0.6771 and a low of 0.6754 on a non-eventful day in overnight markets.

Asia is not stacking up to much different by the looks of the schedule and a quiet session ahead leaves us looking to NZ trade balance tomorrow, Central Bank speakers, including Yellen at the end of the week and the US GDP and Oil rig count to also close down the week.

For the day ahead, the Yen might be in vogue yet again taking the spotlight away from RBA’s governor Stevens while markets have already made up their minds that the Central Bank is unlikely to be cutting rates again any time soon given their minutes that revealed the last call to cut was a close one.

NZD/USD levels

NZD/USD seen at 0.70 by year-end – Danske Bank

NZD/USD remains in the lower end of the recent range for May between 0.6708 and 0.6847. The double bottom on 0.6700/10 offers support in a directionless pair below the rising channels up-tend from 2016 lows of 0.6347. The 20 sma on the 4hr chart is located at 0.6760 0.6800 remains the psychological resistance to break in a continuation of the …read more

Source:: FX Street