RBNZ: NZDUSD In Focus
The Reserve Bank of New Zealand has continued its cuts of the official cash rate from 3.00% to 2.75% yesterday morning (NZT). The market reaction of the continued cuts was a further selloff to the downside which has been the theme with NZDUSD for the last year now.
This week, Hao Sun talks us through his current view on the NZDUSD chart and explains how he plans on gaining an entry to the short side. Hao is seeing last week's low as a key level to keep an eye on, implicating that if price can push right through that level then there's a high probability that it will keep on pushing down to the 0.60 level.
For more commentary on the latest NZDUSD move following the OCR cut, read Hao's full article here.
The TWP Team
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