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NZD/USD sticks to 0.8100 as intervention looms

FXstreet.com (Barcelona) - Less than 1 hour away from the risk event of the session for NZD/USD in the form of NZ Building consents at 22:45 GMT, the pair is last at 0.8104, mostly unchanged for the week so far, off late London session weekly highs at 0.8163.

According to MNI-news reporter Sophia Rodrigues, the RBNZ Governor has warned to be “prepared to scale up intervention to cool overvalued NZD,” while at the same time he “also says OCR could be cut if house prices pressures abate and inflation is still low,” the journalist cited in her Twitter account.

Immediate support to the downside for NZD/USD lies at recent session lows and weekly starting price 0.8084, followed by yesterday's weekly lows at 0.8049, and Thursday's fresh 8-month lows at 0.8005. To the upside, closest resistance shows at mentioned London session weekly highs at 0.8163, followed by Thursday's highs/May 14-15 lows at 0.8173, and past Tues/Wed weekly highs at 0.8210.

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