Back

NZD/USD Technical Analysis: RBNZ could rattle the bird out off perch to take flight out of its cage, eyes on

  • NZD/USD is trading within a steep descending wedge (the bird's cage if you like) and today's RBNZ could be the key to open things up and set the bird free, one way or the other. 
  • The targets are mapped out and justified by the series of eclipses, prior supports and resistances. 
  • The prior session's high at the 61.8& is a double fib target meeting the recent swing high and low's 50% Fibo retracement and a potentially strong level of resistance on steady hand from the RBNZ hold scenario; (The Aussie rallied between an open of 0.6980 to 0.7048, 68 pips on the RBA holding the prior session). 
  • Higher up, the next level comes in 50 pips to 3rd May highs at 0.6653. On something unexpected, and a sustained break above the resistance of the wedge, the 50% Fibo and 19th April highs guards a run to 0.6708.
  • On the downside, a rate cut would open risk to 0.6540 and a confluence of prior lows/support and Fib levels.

Daily chart

Brent technical analysis: Golden crossover confirmed, bigger rally ahead?

With Brent’s 34.5% rally from December lows, a widely tracked long-term technical indicator has turned bullish for the first time in since September 2
อ่านเพิ่มเติม Next