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NZDUSD Technical Analysis

On the daily chart below for NZDUSD, we can see that as the price spiked to the 0.6389 resistance after the RBNZ hiked by more than expected, the sellers entered the market aggressively as the US data started to show material weakness and the market began to get recessionary vibes. The price then fell for hundreds of pips, eventually going back into the previous range between the 0.6191 support and 0.6270 resistance. The price is now bouncing from the support as the US CPI yesterday didn’t offer... Read More

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Nzdusd

Technical

Analysis

Forex

Posted: Apr 13 2023, 09:11

Author Name: forexlive

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