FX:NZDUSD   New Zealand Dollar / U.S. Dollar
30 1
We can see the NZD/USD has not pushed through the 0.76 level the past two weeks. This technical analysis combined with the fundamental down turn of the dairy market have set up a trading opportunity to sell at the 0.76 level. The NZD/USD is overvalued at this current time and we should see the currency move towards the lower 0.72 region. Interest rates are unlikely to increase in New Zealand and the only reason would be the Auckland housing market otherwise there is no need for interest rate hikes.
I agree with your sentiments. On the 30m time frame, a Bearish ascending ( Flat Top, bottom rising) triangle has finally broken through, continuing in a Bearish trend. 0.75142 has been set, as of this time. Could go further.
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