The pair is in a descending channel and currently at the top of the trend line, an extremely ideal spot to trade the RBNZ event , any break below is a clear short signal, however if the market decides to react to the upside in the case of any surprise or disappointments by RBNZ it would be wiser to stay away instead of going long.
IMPORTANT: The setups posted here are not trade calls or signals and are intended for informative purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit thepiphunter.com and subscribe.