New Zealand Dollar is continuing consolidation. Get the analysis for today here:
coming into the picture and rising. We are currently stuck between the 200-Day EMA and the 50-Day EMA, which typically means that the market is getting ready to make a bigger move, as we squeeze between these 2 areas. If we do break out of this area, the market will more likely than not continue to go much higher or lower, depending on which direction we go.On a breakdown, it would be a continuation of the overall negative trend, perhaps ending the market down to the 0.60.58 level. The 0.
Keep in mind that overnight there will be an RBNZ interest rate statement, which of course will have a major influence on where the New Zealand dollar goes for a bigger move. A lot of different estimates are out there, but right now the central bank is expected to raise rates between 50 and 75 basis points.
The biggest driver will more likely than not end up being the statement and any press conference afterward, as the hike is probably already baked into the price. Forward expectations will continue to be parsed.
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