NZD/USD appears to be stuck in a defined range as a growing number of Federal Reserve officials show a greater willingness to switch gears, but the Reserve Bank of New Zealand (RBNZ) interest rate decision may influence the near-term outlook for the exchange rate as the central bank is expected to lift the official cash rate (OCR) off of the record low. NZD/USD attempts to push back above the 50-Day SMA (0.7017) as it tracks the monthly opening range for August, and the RBNZ rate decision may trigger a bullish reaction in the New Zealand Dollar as the central bank is expected to deliver a 25bp rate hike. The RBNZ ... (full story)