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NZDUSD down for the 4th day in a row. Extends through swing area and looks toward 50%.

NZDUSD down for the 4th day in a row.  Extends through swing area and looks toward 50%.
The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. This week, the RBNZ raise rates by 25 basis points, but the hike was considered dovish as signals of a pause surprised the market. The pair has moved to the lowest level since November 11, 2022 in trading today.Technically, looking at the daily chart, the move to the downside yesterday fell below a swing area between 0.60559 and 0.60844, but rebounded back... Read More
Posted: May 26 2023, 17:02
Author Name: forexlive
Views: 081438

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