The NZDUSD has fallen significantly in the last month (over 5.5%) from 0.6780 down to test 0.6400 today and a 44-month low. Although the RSI has been in the oversold territory for two weeks, the momentum remains biased to the downside. Below 0.6400 support could be found at 0.6350.
Next Leg ? - All depends on the FOMC Minutes tonight, the tone of Jay Powell’s speech on Friday (August 23) and the impact on the "not afraid to surprise the markets" RBNZ. Watching and waiting.
Next Leg ? - All depends on the FOMC Minutes tonight, the tone of Jay Powell’s speech on Friday (August 23) and the impact on the "not afraid to surprise the markets" RBNZ. Watching and waiting.