Bearish NZD/USD Good for Sellers

The NZD has been on a bearish trend in the last two days and it has been the weakest of the majors so far. The statement from the Reserve Bank of New Zealand is scaring NZD buyers away. Although, NZD/USD popped higher on comments from the US officials. We saw that as a good opportunity to sell this pair which we did and we are already in profit. The 20 SMA (grey) is also helping the cause for sellers as it keeps pushing the price lower.

1. The main trend is down
2. The sentiment is negative still
3. The NZD is the weakest currency today
4. The RBNZ rate decision today looms on NZD traders