The latest rally of the Australian Dollar caused by the RBA meeting minutes supported the NZ Dollar. External news released are still the major driver for the new Zealand currency. The report published by the RBNZ was ignored by the market.
According to the recent survey conducted by Nielsen, the expected rate of consumer inflation has declined by 0.2% down to 1.98%.
Forex.
According to , the New Zealand Dollar keeps retracing against the US Dollar. The experts report that NZDUSD is forming wave A/B of H1 after finishing wave A/B of level H8.
A further downswing (if the price breaks below 0.8075) will probably meet support around 0.8072, 0.8060 and 0.8036. A break above 0.8143 will indicate the forming of wave A/B of H16. If this is the case, the price may encounter resistance at 0.8150, 0.8166.
