Source: PaxForex Premium Analytics Portal, Technical Insight

Reuters quoted an anonymous official, who said that the Central Bank is "actively working" on negative rates and the program "financing for lending. At the same time, Bloomberg cited a member of the RBNZ, Hoxby, who noted that in the next three years, inflation would remain well below the target level. Meanwhile, Central Bank's chief economist Ha said that the regulator should be more aggressive with incentives. It is better to do too much and too early than too little and too late, he suggested. Ha also called low rates effective.

NZD/USD, 30 min

Pivot: 0.6645

Analysis:

Provided that the currency pair is traded below 0.6670, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 0.6645
• Take Profit 1: 0.6607
• Take Profit 2: 0.6590

Alternative scenario: 

In case of breakout of the level 0.6670, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 0.6670
• Take Profit 1: 0.6698
• Take Profit 2: 0.6715

Comment:

RSI is below its neutral area at 50. MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is below its 20 and 50 moving averages (0.6654 and 0.6658 respectively).

Key levels:

NZD/USD, D1

Pivot: 0.6667

Analysis:

While the price is above 0.6470, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 0.6667
• Take Profit 1: 0.6907
• Take Profit 2: 0.7026

Alternative scenario:

If the level 0.6470 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 0.6470
• Take Profit 1: 0.6273
• Take Profit 2: 0.6155

Comment:

RSI is above its neutral area at 50. MACD is negative and above its signal line. The MACD must break above its zero level to cause further growth. Moreover, the pair trades above its 20 and 50 moving averages (by 0.6628 and 0.6631 respectively).

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD – sell below 1.1765 with 1.1720 and 1.1700 targets as Take Profit. Alternative scenario - if the level 1.1765 is broken-out, buy with the TP 1.1780 and 1.1800.
GBP/USD - short positions below 1.3050 with 1.2980 and 1.2950 targets as Take Profit. Alternative scenario - if the level of 1.3050 is broken-out, buy with the targets 1.3080  and 1.3110 as Take Profit.
AUD/USD – sell below 0.7155 with 0.7105 and 0.7090 as Take Profit targets. Alternative scenario - if the level of 0.7155 is broken-out, you should consider buying with the targets 0.7170 and 0.7190 as Take Profit.