- Already anticipating bad NZD news and break lower to 0.6680 region
- slowly moving towards the lower which then breaks upon the news
- Staying around current levels (0.6840 - 0.6875) and then break lower OR
- Less likely IMO , move up due to relief
I'm biased towards lower levels even though is almost and already oversold on 4H.
However, they aren't on Daily and thus I could see H4 levels getting stretched.
As indicated on the short I see various levels that could cushion the fall for weeks to come if we in fact move lower.
Let us see.
If FOMC gives us a surprise we could see 0.668 or even lower. If it stays within expectations we could see a slower move to those levels but overall I am expecting the tone to be bearish for the last part of the week.