Sforex

Kiwi : RBNZ Meeting is the key event to determine the trend.

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
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NZDUSD             is fighting to find a trend. The fluctuation is not over because market needs a reason to position.

USDollar             is very favourite, but Kiwi is also a good currency to buy , NZ             data is supporting Kiwi.

NZDUSD             hold below the key resistance 0.6900: It's also 23.6% Fib Retracement I draw on the chart.

While strong support is at SMA100: 0.6610

I think to trade NZDUSD             we should wait for a break happens.

This week, besides US data, we also a key event which could trigger a significant change for Kiwi: RBNZ Meeting on Wednesday.

100% RBNZ will not hike or cut rate, they have no reason to do that, market concentrate in the Statement : Dovish neutral or hawkish tones also impact somewhat to NZDUSD             .

Neutral or Dovish tone is chance to SELL NZDUSD             .

While Hawkish tone triggers a BUY Order.

HOWEVER, WE DON'T THINK THAT A BUY LIVES FOREVER, there is levels it must stop at there.

Look at on the chart,38% Fib retracement, strong support at 0.7300 I think is the fair level of NZDUSD             . Kiwi cannot excess this resistance zone.

One more thing, Long term descending trend line and SMA200 accompany together, it could create a potential resistance.

Finally, Fundamental supports LONG Kiwi, but I love SHORT than LONG. I wait and keep patience.
VincentWhiting
a year ago
Long Kiwi gives a good swap though.
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