As expected the RBNZ left the OCR unchanged but the accompanying statement stated that they are watching for increased inflation pressure and expect growth to rise to 2.5% and 3% over the next two years and suggested rates could be on hold until 2014. The Kiwi ran higher to break key 0.8275 trend resistance on its way to a high - so far - of 0.8293. The next hurdle sits at 0.8308, 7th Nov high and possibly on to the 0.8356 28th
Sept high.

Good bids now start at 0.8250 with more at 0.8205 trendline support, but with the momentum indicators pointing higher, I am doubtful of any meaningful dips below 0.8250 in the coming session or two.

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