NZD/USD: The New Zealand dollar advanced by more than 1-percent to hit a 1-week peak after the Reserve Bank of New Zealand sounded less dovish on policy than speculators had wagered on. The central bank left rates on hold at a record low of 1.75 percent at its first monetary policy decision of the year and reiterated that it is likely to keep the official cash rate (OCR) at 1.75 percent through 2019 and 2020. The Kiwi trades 1.6 percent up at 0.6729, having touched a high of 0.6851, its highest level Feb. 6. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6862 (Jan. 29 High), a break above could take it near 0.6911 (Dec. 11 High). On the downside, support is seen at 0.6706 (Jan. 22 Low), a break below could drag it below 0.6671 (Jan. 4 Low).
NZD/USD daily chart