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    Market analysis NZD/USD Outlook (23 September 2020)

    Related product:Forex
    Market analysis:Overall, NZD/USD is trending upwards. Recently, NZD/USD trended lower into the key level of 0.66.

    Earlier today, the Reserve Bank of New Zealand (RBNZ) held interest rates unchanged at 0.25%. The central bank will continue with the Large Scale Asset Purchase (LSAP) programme of up to $100 billion. In addition, the RBNZ highlighted the additional tools that they may employ which include a Funding for Lending Programme (FLP), negative interest rate and purchases of foreign assets. The committee members also preferred to launch an FLP before the end of this year.

    Currently, NZD/USD is testing the key level of 0.66. Its next support zone is at 0.65200 and the next resistance zone is at 0.67600.
    If NZD/USD breaks below the key level of 0.66, look for short-term selling opportunities up until Fed Chair Powell’s testification at 2200 (SGT).

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