NZD/USD drops to 0.7330 post-RBNZ

The Kiwi dollar lost some momentum following the RBNZ meeting today, with NZD/USD deflating to the 0.7330/20 band, turning negative for the day.

NZD/USD in red on unchanged RBNZ

The pair has briefly tested the 0.7365/70 area after the RBNZ left its key rate unchanged at 2.0% at today’s meeting, although the up move proved to be short-lived.

In the meantime, spot is snapping a 2-session positive streak, back from multi-day peaks albeit keeping alive the rebound from recent lows in the vicinity of 0.7230.

There are no scheduled releases in New Zealand for the second half of the week, leaving the price action exclusively to the mercy of USD-dynamics.

NZD/USD relevant levels

As of writing the pair is losing 0.04% at 0.7338 and a break below 0.7226 (55-day sma) would aim for 0.7097 (100-day sma) and finally 0.6949 (low Jul.21). On the other hand, the next hurdle aligns at 0.7487 (2016 high Sep.7) ahead of 0.7752 (high Apr.19 2015).