NZD/USD not ready to break lower?
It's only minutes since the decision but this is some interesting price action in NZD/USD. The pair broke through the July low of 0.6881 but the follow through has been negligible and it looks like few stops were run.
Instead, the pair has quickly clawed back to 0.6915, which is only 28 pips below pre-announcement levels.
We're going to have to wait for the dust to settle but if the kiwi doesn't sustain a break below 0.6900 on a surprise rate decision, 5 new covid cases and the top health official saying they expect 50-100 cases, then what could possibly sink this pair?
