RBNZ is hinting for a rate cut in August and further ease will be negative for NZD.
Technicals suggest Head&Shoulders pattern in formation.
Divergence in Existence now.
We are looking at 0.6750 Zone as 1st Target with open target at 0.6550
Having short the pair at 0.7185 and 0.7205 -
Please check the Close of 4 Hour Candle as well which is Shooting Star - An important Bearish Sign.
RBNZ hinting of further easing and wants NZD weak.