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"We don't foresee any changes in the conduct of monetary policy [by the RBNZ]term. Westpac expects the next rate increase in March, once the new governor has settled in."
- Westpac (based on Bloomberg)
Pair's Outlook
NZD slightly paired losses against the greenback today, though the outlook on the pair is neutral for now. In case bullish momentum emerges, 0.7970 (100-day SMA; R1 Weekly) might become an initial resistance for bulls. A breakout of this level would clear the path for 0.8082 (Upper Bollinger band) and 0.8148 (R3 Weekly).
Traders' Sentiment
The SWFX sentiment index shows a neutral stance of market participants on NZD/USD as at the moment 52% of currency traders hold long positions and 48% keep the opposite ones. However, within the range of 100 points from the present market price, the 76% of investors expect the pair to fall, while 24% of currency traders anticipate continuation of the bullish rally.
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