Sell on a level breakthrough of 0.6997 with 0.6945 target. Stop loss = 0.7047.
Reason for the trading strategy
The RBNZ lowered its key interest rate by 25 bps to 3.25% when it was expected to remain at 3.5%. According to the regulator, the low prices for dairy products, and the high fuel prices will put pressure on net exports and household income. These news is negative for the Kiwi. In the short term, the NZD/USD pair may decline to the 0.6945 level.