Reserve Bank of New Zealand hints at possible tightening to control inflation. NZDUSD up. ...Middle East

The Reserve Bank of New Zealand's decision to maintain interest rates at 5.5% was anticipated, but their stance leaned towards the hawkish side. They didn't dismiss the possibility of future rate hikes to manage inflation. This sentiment drove the NZDUSD price up, surpassing the 61.8% Fibonacci retracement level of the July to October downward movement, which was at 0.61674. The pair reached a peak of 0.6207 before encountering selling pressure and retreating.This pullback below the 61.8% retracement level has turned it into a resistance point, disappointing those who had bet on the break. A sustained move above the 0.6167 level is needed to reinforce a bullish outlook. Meanwhile, on the dow

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