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Hello community,
The pair NZDUSD is moving in range 0.746~0.774 that is above sma(50), it means the pair still in up channel. If support still hold, the pair could bounce back around 0.78; Opposite case, a break below could lead the pair to 0.72 again.
Fundamental factor is putting pressure on NZD so I think that upside should be limited. Meanwhile RBNZ monetary policy stance dovish and FED rate hike ahead continue push the pair go south. Look at simple chart below:
Good luck to all
Haynes
The pair NZDUSD is moving in range 0.746~0.774 that is above sma(50), it means the pair still in up channel. If support still hold, the pair could bounce back around 0.78; Opposite case, a break below could lead the pair to 0.72 again.
Fundamental factor is putting pressure on NZD so I think that upside should be limited. Meanwhile RBNZ monetary policy stance dovish and FED rate hike ahead continue push the pair go south. Look at simple chart below:
Good luck to all
Haynes
