has remained bullish
after the bullish CPI
data that I successfully predicted. Prices moved lower after testing this descending trendline to pull back to key support, and is now continuing its ABCD
move higher to possibly retest this structure. There is some uncertainty surrounding the US dollar
amid Trump's policies after he signed travel ban for several Muslim countries over the weekend, which weakened the US dollar
and resulted in NDZ/USD gaping higher on the open of markets. We can expect choppy price action over the coming days as we have a number of key US data including the all-important NFP on Friday. Next week we have the RBNZ interest rate decision, and although expectations are for RBNZ to hold rates after cutting rates to a record low 1.75%, we can expect encouraging comments from the central bank
due to the recent positive Kiwi data, which would see further bullish
pressure for the currency.