NZD/USD surges above 0.6700, tests February highs pre-key RBNZ meeting as geopolitical concerns shrugged off By Frank_Macro NZDUSD RBNZ Fed
, as well continued Russia/NATO tensions in the background, NZD/USD has managed to push back above 0.6700 on Monday. As this Wednesday’s RBNZ meeting, where markets participants are split between expecting a 25bps or 50bps hike, looms, the pair has gained 0.4% on the session and is one of the better G10 performers on the day.
Though escalating geopolitical angst that continues to weigh heavily on other risk assets could yet spoil the party, it looks as though the NZD/USD bulls are intent on testing earlier monthly highs in the 0.6730s. This is a key area of support turned resistance so far in 2022 and a break above it would open the door to a run back towards 0.6800 and annual highs near the 0.6900 level.
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