As soon as it was announced that Prime Minister of New Zealand will be Jacinda Ardern, on October 19, NZD took a dive and hit a support line.
The ascending triangle is very clear, together with at least two channels.
Mind that NZDJPY has a favourable carry trade.
Very favourable risk reward opportunity.
Should US10y remain subdued, EMBE may continue to appreciate until the beginning of November, to recover prices seen before the US election.
After that, it would be rather surprising if it was to appreciate even further.
N.B.: EMBE releases an interest payment on November 16, booking date November 17.
As a result of today's US Consumer Price Index miss, the USD dropped. Gold appreciated, as bulls found good reasons to buy more.
Yet, the trend down may be not exhausted, until the next support is reached: TP 1243.78