FXstreet.com (Barcelona) - The New Zealand Dollar is going through choppy trading between session low at 0.7030 and 0.7070/75 after the releases of fed and Reserve Bank of New Zealand's monetary policy decisions.
On a wider perspective, the Kiwi is trading in a flat channel, from 0.7020/30 to 0.7105 after Tuesday's rejection on the pair's last attempt to break resistance at 0.7165. Support levels lie at 0.7020/30, and below here, Dec 22 low at 0.6970. On the upside, resistance levels lie at 0.7105 and 0.7165.
The RBNZ has announced its decision to leave its Cash Rate unchanged at 2.5%, and Governor Allan Bollard announced its intention to remove monetary stimulus measures around mid-year, as, he observed, new Zealand's Economy is recovering, despite a higher level of uncertainty.