Tonight RBNZ is cutting the base rate from 1.00% to 0.75% at 1am GMT. This way it will have the same rate as RBA and BOE.
Currently a strong support zone around the 1.73 area, a break lower could be used to signal a short.
A bounce to the upside is also possible, though with EUR so weak it is not as probable.
If the pair falls, expecting it to retest the uptrend line, confirmed line multiple times.
What do you think will happen to NZD tonight?
Good Luck!
Currently a strong support zone around the 1.73 area, a break lower could be used to signal a short.
A bounce to the upside is also possible, though with EUR so weak it is not as probable.
If the pair falls, expecting it to retest the uptrend line, confirmed line multiple times.
What do you think will happen to NZD tonight?
Good Luck!
Comment:
Weekly chart shows price has been converging for some time. Will it retest the uptrend line or go up to test the downtrend line?
Comment:
No cut, rates unchanged!!!