RBNZ hold their OCR meeting less than 24 hours away. Whilst we expect they’ll hold, we suspect they may introduce a dovish tone, given the apparent ‘race to the bottom’ seen among the Fed, ECB and RBA recently. Going into the meeting, NZD/USD remains supported whilst the US dollar continues to unwind. It appears to be carving out a double bottom pattern above 0.6500 which would be confirmed with a direct break above 0.6685. However, as its now within its 7th bullish session and RSI(2) is heavily overbought below key resistance, we could see NZD/USD dip lower and respect resistance. NZD/JPY could be setting itself up ... (full story)