The rate is currently testing the 7-month falling trendline resistance, a polarity change as the former support becomes the new resistance and the resistance from a breakaway falling gap.
Although normally these signs would be an indication for further downside, the RBNZ rate cut and openness to further cuts make's me bullish on the pair.
I am waiting for an upside break and a daily close above 2.1500 before entering though.
Although normally these signs would be an indication for further downside, the RBNZ rate cut and openness to further cuts make's me bullish on the pair.
I am waiting for an upside break and a daily close above 2.1500 before entering though.
