FED Meeting comes first, then RBNZ Meeting.
Surely, Kiwi will react strongly with incoming risk event.
100% FED will hold rate, and dovish after serial of poor data.
The ball is hit to RBNZ.
Does RBNZ cut rate ? It's a big question.
The consensus forecast rate "on hold" at current level 2.25%
RBNZ in the last meeting said they will cut rate if necessary.
There is no clear signal to trade Kiwi.
IF RBNZ cuts rate, NZDUSD would quickly drop to 0.6640
And if they leave rate unchanged, NZDUSD would soar to 0.700
We see a big is captured NZDUSD in its boundary,
1H chart, NZDUSD is choosing 0.6825 as a good support.
The key point is NZ CPI was released last week, and it was a positive number, so RBNZ has no reason to cut rate.
There is one thing I agree :
Definitely, there will have a clear trend after tomorrow.
Uptrend or Downtrend ?
I must choose a side.
I lean to uptrend. This is my final view.
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