NZDUSD: short before the New Zeland central bank speach
On Wednesday, the New Zeland central bank will speak about the next monetary policy about raising the interest rate: it's been estimated that the probability of a rate hike is 90%.
From a technical point of view, NZD/USD seems to be uncertain: it plays around its 200 simple moving average but, lastly, it seems to show strong weakness. If the NZD would cross its support (red line), I expect the price to reach at least 0.66. Target has been found simply from the distance between its high (04/05/2022) and the support line.
From a technical point of view, NZD/USD seems to be uncertain: it plays around its 200 simple moving average but, lastly, it seems to show strong weakness. If the NZD would cross its support (red line), I expect the price to reach at least 0.66. Target has been found simply from the distance between its high (04/05/2022) and the support line.