NZD/USD bulls take on 0.64 territories after US CPI event NZDUSD Fed CPI Technical Analysis DollarIndex
data that came in as expected on the whole.
Nearer term, the price is supported by a 38.2% ratio and the neckline of the W-formation and the bulls eye the prior highs near 0.6470 and 0.6500 targets: ''WIRP suggests a 25 bp hike February 1 is fully priced in, with nearly 30% odds of a larger 50 bp move. Another 25 bp hike March 22 is fully priced in, while one last 25 bp hike in Q2 is nearly 45% priced in that would take the Funds rate ceiling up to 5.25%. However, the swaps market continues to price in an easing cycle by year-end and we just don’t see that happening.''
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