NZD/USD – bearish break on daily charts

nzdusd

  • Daily chart shows bearish break from rising channel and a dip below 200-DMA
  • A daily close below 0.6618 wud add credence to bearish breakout from channel. First stop wud then be at 0.6545; on violation of the same support at 0.6429 stands exposed
  • Pair remains sell on rise unless prices see a daily closing back inside rising channel.

Fundamental view

GDT auction today ended with a decline dairy prices and milk powder prices and added credence to RBNZ’s dovish forward guidance

Sharp sell-off cud be seen if the Fed comes out hawkish

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