RBNZ rate decision & NZDUSD at confluence resistance
We observe a tug of war between buyers and sellers near .7280 -.7310 area, here lies the confluence resistance, channel bottom line crossing the down trend line.
1- RBNZ rate decision may give the direction cues.
2- Longer term down-trend is still intact with resistance @ .7740 handle, but since Aug 2015 kiwi showing resilience against greenback.
3- we have short term bullish bais above .7220 and looking to enter long once RBNZ rate decision announced.
4- From commodity bloc both aussie and kiwi are performing better against king dollar as compared to CAD which may struggle further as OIL remain range bound.
1- RBNZ rate decision may give the direction cues.
2- Longer term down-trend is still intact with resistance @ .7740 handle, but since Aug 2015 kiwi showing resilience against greenback.
3- we have short term bullish bais above .7220 and looking to enter long once RBNZ rate decision announced.
4- From commodity bloc both aussie and kiwi are performing better against king dollar as compared to CAD which may struggle further as OIL remain range bound.
