LorenzoDecaria
Short

RBNZ rate cut could push the pair lower

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Next Wednesday RBNZ is due to come out with the interest rates and forecasts are all in for a further 0.25% rate cut. Should this be confirmed the steep downtrend could extend itself toward new lows. Technically speaking, a relief rally is taking shape with prices climbing up in direction of the resistance around .6600/.6650. Some confluence comes from the down trend line extending since April and EMA21 on the daily time frame. Any sing of weakness around that area could trigger a very good selling opportunity.
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