Watching for a break of trend or break of previous high
We have data at 1400 NZST with the RBNZ rate announcement and statement that could provide a catalyst for the next move. Markets are pricing in three rate cuts this year for the kiwi whilst the reserve bank are suggesting none until next year. If the bank remains hawkish and holds interest rates then we might see some profit taking in the pair. I personally wouldn’t over stay my welcome shorting this as data from NZ is continuously weak.
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