Besides Crude Oil inventories, we have no other significant data out that should effect the kiwi,
Annual budget for Kiwi @ 12pm. We have done 37 pip range so far with the ADR b/w 60-70.
Forecasting for us to continue ranging until at least the data tomorrow
therefore will be playing the trend (down) and shorting the upper range
order will be closed a couple hours...
Selling has was weaning from the major highs at 1.1615.
We've seen the rally yesterday except today it gave most of its gains back. This last impulsive moves seems like a Shakeout. Bounced off support on Up Channel.
If this upward TL breaks the EURO and we get stopped then the EURUSD will continue a major a selloff.
Targeting a spike upto NFP highs