{"id":73269,"date":"2024-11-27T10:29:51","date_gmt":"2024-11-26T23:29:51","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73269"},"modified":"2024-11-27T10:29:51","modified_gmt":"2024-11-26T23:29:51","slug":"trade-the-kiwi-on-the-rbnz-interest-rate-decision","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/trade-the-kiwi-on-the-rbnz-interest-rate-decision\/","title":{"rendered":"Trade the Kiwi on the RBNZ Interest Rate Decision"},"content":{"rendered":"\n<p>Kiwi dollar traders are bracing for another busy session ahead as the market prepares for a lively rate call from the Reserve Bank of New Zealand today, with opinions split on how much of a cut they will deliver to the market. The market is divided on whether they will opt for a 50-basis point cut or go for a larger 75-basis point reduction, with 60% pricing in the chance of the former. Inflation has pulled back to 2.2% in the last quarter and is now within the target band for the bank, but GDP prints are weak, and that\u2019s why some are calling for a more aggressive 75-point cut, especially with the next meeting not coming until February 2025.<\/p>\n\n\n\n<p>The Kiwi dollar is sitting just north of recent annual lows, and a more aggressive cut will see these lows taken out swiftly, opening the way for a move down to challenge the longer-term support level on the daily chart around 0.5550. The smaller cut could see a bit of a relief rally, but given the recent move down in line with the stronger US dollar, most traders are expecting topside moves to be limited.<\/p>\n\n\n\n<p><strong>Resistance 2:<\/strong> 0.6328 \u2013 Long-Term Trendline Resistance<br \/><strong>Resistance 1:<\/strong> 0.6066 \u2013 200-Day Moving Average<\/p>\n\n\n\n<p><strong>Support 1:<\/strong> 0.5795 \u2013 2024 Low &amp; Trendline Support<br \/><strong>Support 2:<\/strong> 0.5550 \u2013 Long-Term Trendline Support<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/Kiwi-Daily.png\"><img decoding=\"async\" loading=\"lazy\" width=\"880\" height=\"339\" src=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/Kiwi-Daily.png\" alt=\"\" class=\"wp-image-73270\" srcset=\"https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/Kiwi-Daily.png 880w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/Kiwi-Daily-300x116.png 300w, https:\/\/www.icmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/Kiwi-Daily-768x296.png 768w\" sizes=\"(max-width: 880px) 100vw, 880px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Kiwi dollar traders are bracing for another busy session ahead as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":73271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[462],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73269"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=73269"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73269\/revisions"}],"predecessor-version":[{"id":73272,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73269\/revisions\/73272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/73271"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=73269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}