Kiwi extends initial upward trajectory after RBNZ’s Orr downplays odds of rate cut

The New Zealand Dollar (NZD), also known as Kiwi, stretched its initial advances against the USD to 0.6830 during early Asian trading session.

The NZD/USD pair extended initial upward trajectory and gained another 100 pips after Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr said chance of a rate cut has not increased during press conference after the monetary policy rate announcement.

NZD/USD Technical Analysis

The pair needs to surpass 0.6830 descending resistance-line in order to aim for 0.6880 and then 0.6905 whereas 0.6945 could please bulls afterwards.

On the downside, 0.6770 and 0.6720 can act as immediate supports with 0.6705 horizontal-line gaining attention then after. During the pair’s decline past-0.6705, 0.6670 and 0.6620 could become sellers’ favorites.