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Filtrato dai tags:  Macroprudential Measures
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Kiwi holding above 0.70

Kiwi has been holding above 0.70 since early June. Even Brexit sell-off wasn't able to crack the big level. Yesterday morning, RBNZ implied that they are on hold with rates at least until housing market related macroprudential measures will be implemented.
Unless we get an exceptionally strong U.S. jobs report tomorrow, the pair will likely close above the 38.2% retracement of the 2014 - 2015 decline for the second week in a row. Area between 50.0% retracement (0.7460) and 0.75 is the next targe…
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Kiwi breaks below 50 DMA

Last week's RBA rate cut hasn't only impacted Aussie but has also contributed to the reversal in Kiwi. Overnight talk of additional macroprudential measures by the RBNZ to stem house price rises has been seen as laying ground for further rate cuts.
The pair fell more than 300 pips since last Tuesday, breaking below 50 DMA in the process. Some demand will definitely come in ahead of 100 DMA and 200 DMA but it may take a decline to August 2015 - January 2016 trendline before sentiment turns again.
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