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NZDUSD - Sell The Rumour, Buy The Fact?

• I expect sideways trading until the rate decision and for 25bps will be added to bring rates to 3.25%
• This should see NZDUSD break up through 0.852 and target 0.864 and eventually 0.87 highs
• Fundamentally still strong, I do not expect 'jaw-boning' from RBNZ and for NZDUSD to become bullish after Thursday
• Talk of intervention to bring down NZD would have more bearish impact upon NZD than not raising rates
• 0.840 is a pivotal

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Tags: analysis, dailyfx, fundamental, nzd/usd, nzdusd, technical

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