RBNZ says it sees reaching the 2% midpoint in Q2 2014.
Head of expects a 125bps of increases this year! a new tightening cycle starts
Unexpected strong revisions, and therefore I believe there is new information here. Accordingly, I cancel this trade for now.
I am looking for a rebound, speculating on a potential buy the rumor sell the news event, i mean as the RBNZ is widely expected to hike rates by 25 bps , market has been pricing in this decision for the past weeks, and i think there is limited downside for the pair following the decision. Alternatively, if the RBNZ fails to meet market expectations and surprisingly doesn't hike* rates, that would result in a major rally.
Technically, the completion of a pattern supports the idea of a rebound, in addition into a potential on Momentum.
Keep stops tight and good luck
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is it still a valid chart? i've entered at 0576