Our view is that commodities such as oil will go up, and NZD will benefit. Technically, the charts also point to an upward movement. Also at this point a rate doesn't seem likely and at any rate, the price at the start of December will be in a holding pattern for this particular news release. Taking into consideration that currencies struggle to ride a trend our prediction will be conservative.

We choose the 50% fibo level at the monthly chart as the price @0.7065, which is close to the 61.8% fibo level in the weekly chart as well.


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