FX:NZDUSD New Zealand Dollar/U.S. Dollar
The Kiwi has been in a consolidation/corrective structure for some time. The recent 25 basis point rate cut also didn't help the case for the bulls. A triple top as well has formed around the 0.69000 area which solidifies our bias. Price is still in the consolidation range and forming a minor triangle. A break below this triangle could be a sell opportunity. Price could still test the recent highs and as long as 0.69000 holds, we will look to short any rallies.