By Krishna K — May 21 - 10:25 PM
NZD/USD rallies 0.85% as RBNZ holds rates at 5.5% but increases OCR path
RBNZ sees official cash rate at 5.54% in June 2025 vs. previous 5.33%
Raises annual CPI forecast to 2.6% in June 2025 from previous 2.4%
Committee discussed possibility of raising ratesthis meeting
NZD likely to rally further as RBNZ categorically hawkish
Resistance at 0.6172, 61.8% of December-April decline
Support 0.6130-40, 0.6100-10; Asia range 0.6093-0.6152
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Source:
Refinitiv IFR Research/Market Commentary