Current situation: - Price is in a long-term uptrend since March - Today's spinning top puts the mid-term rally at risk - The short term price action is consolidating above .7165
Looking ahead: - NZD Cash Rate announcement is on August 10th but the RBA cut today may foreshadow the RBNZ decision next week. - Tomorrow GDT Price Index numbers will be released - If a reversal candle pattern forms using today's "spinning top" a broader sell-off may begin
Notes: - A close below .7000 would mark a medium term change in trend, but I am not predicting that right now