Kiwi Clobbered, But Pair Remains Range-Bound | Vantage FX

Kiwi Clobbered, But Pair Remains Range-Bound

March 10, 2016

Kiwi Clobbered, But Pair Remains Range-Bound:
The RBNZ caught the market off guard early this morning, cutting rates by 25 basis points to a record low of 2.25%. Despite the 150 pip decline following the surprise announcement, pair remains stuck in a range dating back to early February.

Kiwi Clobbered

Range support is .6565, with a break below there targeting the wedge bottom above .6484. Initial resistance is the wedge top below .6812, a break above there would target range resistance at .6868.

Daily trend is sideways as long as these extremes hold.

See opportunity trading forex ranges? Test your strategy on a $50,000 demo account.

Oscar Goullet – @FXtechs

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Australian Forex broker Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, prices or other information is provided as general news and marketing communication – not as investment advice. Consequently any person acting on a Forex live account it does so entirely at their own risk. The experts writers express their personal opinions and will not assume any responsibility whatsoever for the actions of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX on the MT4 platform, shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.




Fast & Easy Account Opening Start Now!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!

  • Please enter a valid data!
Forex Promotions

Open a live account today to gain exclusive access to our 8 Forex Promotions. 

Find out more.