NZDUSD

NZDUSD is trading within a bearish consolidation structure ahead of the RBNZ meeting. The intraday price action remains range-bound, with the most recent swing high at 0.5886 and the most recent swing low being 0.5814. Despite the consolidation, the support cluster around 0.5820/00 could offer a solid base for a bounce.

Key Indicators

• 200-SMA now acts as dynamic support.

• The upward correction structure is still supportive.

Fundamental Context

Fundamentally, the sustainability of any gains in Kiwi for this week will largely depend on the US dollar’s performance, the upcoming RBNZ decision, and geopolitical developments. The Reserve Bank of New Zealand will hold its monetary policy meeting on Wednesday.