Last week we already reached TARGET 1, but the trend remains bearish , so it is logical to think about TARGET 2, around 1.5030. From the technical point of view, each bounce is to be considered as a SELL OPPORTUNITY. Stop above highest.
Our last PLAN/SETUP
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WEEKLY EVENT: RBNZ (Risk about Setup & Money Management) The RBNZ meets next week and we think they will attempt to talk down the currency. Since their last meeting in February, consumer spending has fallen, GDP growth slowed, the trade deficit widened while dairy prices declined. There was some strength in the services and manufacturing sectors but with the currency so strong, but many traders don't think that will be enough to ease the central bank's concerns. Well'see!