Technical Analysis: Bias Bullish - Holds support at cloud base and above 110-EMA on daily charts - Price spikes past 20-DMA at 1.9454 - RSI shows strong upside momentum above 59 levels - Stochs have rolled over from oversold levels and biased higher - +ve DMI has crossed over -ve DMI, MACD is on verge of bullish crossover on signal line
Fundamental Factors: - RBNZ looks set to hold steady on rates for the foreseeable future. - RBNZ Governor Adrian Orr said that the central bank is dedicated to easy monetary policy "for an extended period of time". - Focus on BoE today. Markets have priced-in a delay in the rate hike. GBP may edge higher if BOE portrays the first-quarter slowdown as a temporary lull.
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