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Razvan
May 7, 2014 6:40 AM

NZDUSD - Wheeler said....NZD reacted Short

New Zealand Dollar/U.S. DollarFXCM

Description

Wheeler, RBNZ chairman, said that the kiwi got strong despite New Zealand's fundamentals. A strong NZD could bring problems to the country's economy and the central bank might start selling some N. The currency reacted pretty fast and fell back under 0.87.
From the technical point of view we can see a very good resistance at 0.8743 and a negative divergence on the 28 periods RSI. A fall could bring NZDUSD back to 0.8550/55
Comments
knight1
Positive selling opportunity.
Razvan
The risk reward ratio is pretty good for this setup
PatStale
the trigger i was hoping for... let's see what this puppy will do.... :)
Razvan
maybe a short pullback :)
PatStale
on pure technical analysis... well spotted. waiting for today to close under .8670 to go short on next day....
Razvan
If it will close below your level it will create a pretty nice engulfing :)
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