AUTOREFRESH 
RBNZ act pretty much as expected
By Sean Lee || March 10, 2010 at 23:15 GMT
|| 4 comments || Add comment
For those who missed it earlier, the RBNZ kept New Zealand interest rates unchanged at 2.5% and reiterated their intention to start removing monetary stimulus later this year. Many AUD/NZD longs, which had squared up in the last few days, have now started to reinstate.
Governor Alan Bollard is now being quoted across the newswires. He says that the NZD level is not of any concern, it’s still a USD story. They can afford to wait-and-see before raising rates and they probably will not need to raise as high as in the prevous cycle.
Sean you are EUR/USD guru but m15 line looks long. Either nice bounce up or more uhurgh. coming?
Hi Hart, typical rounding bottom on the daily chart. I think we see 13550/13825 range for next few sessions but danger remains for clean-out to 142. What happens after that, I’ve got no idea.
THANKS!
Yes I’m constantly reminding myself of the December – January consolidation that moved sideways, not up, toward the falling channel resistance. That may end up around 1.37 this time and will probably determine EUR/USD fate.
By the way Sean, do you know if user-written articles still appear on the site?