Forex: NZD/USD consolidating around 0.8320/40

FXstreet.com (Barcelona) - The kiwi dollar maintains its intraday upside, bolstered by late increase in risk appetite and accentuated today after the RBNZ left intact the overnight rate at 2.5%, in line with market consensus.

In the view of the research team at BNZ, "Current global growth forecasts may yet prove overly optimistic given the risks at play. And the US economy may surprise everyone and spring back to life next year. But, the way things stand at the moment, the fundamental backdrop is shaping up as supportive of a stronger for longer NZDUSD next year. If this view is to be believed, dips in the NZDUSD should continue to be viewed as buying opportunities. In the short-term, the key support level remains 0.8080".

At the time of writing, the pair is up 0.33% at 0.8316 with the next resistance at 0.8357 (high Sep.28) ahead of the psychological level at 0.8400 and finally 0.8405 (high Mar.1).
On the downside, a decline through 0.8325 (hourly lows Dec.6) would open the door to 0.8308 (high Nov.7) and then 0.8284 (low Dec.6).