Last week we saw how the kiwi turned negative quite quickly. The RBNZ pushed the kiwi lower by opening a crack for potential rate cuts and complaining about the strength of the kiwi, as usual. This continued the trend already seen beforehand. In the US, poor GDP data was countered by a relatively optimistic Fed and a greenback comeback.
As indicated by the arrrows, these are my opinions about the near/medium future. We also have a lot of fundamental data on both nzd and usd. Hopefully (if you are already short) the news from both sides will push the kiwi lower. My first tp is the 38% fib and then if the momentum remains (macd just crossed for a short on Daily) we will see the price go to the 23% and even 0.7150 zone.
As indicated by the arrrows, these are my opinions about the near/medium future. We also have a lot of fundamental data on both nzd and usd. Hopefully (if you are already short) the news from both sides will push the kiwi lower. My first tp is the 38% fib and then if the momentum remains (macd just crossed for a short on Daily) we will see the price go to the 23% and even 0.7150 zone.