The NZD/USD pair is decreasing after the RBNZ interest rate decision.
The regulator has kept the rate on the level of 1.75% and added that the tightening of the monetary policy is undesirable. According to officials, the low interest rates will help GDP grow and will give the basic inflation reach the target level.
Today the traders are focused on the US employment market publications at 16:30 (GMT+2).
Support and resistance
On the 4-hour chart, the instrument is testing the resistance level of 0.7200. Bollinger Bands is pointed downwards, as the price range is widened, reflecting the developing of the downward trend. MACD histogram reached the minimum in the negative zone, keeping strong sell signal. Stochastic is ready to leave the oversold area and form a strong buy signal in the nearest hours.