The NZD is the diamond in the rough today with clear downside direction in the NZDUSD just as the NBNZ Business Outlook numbers are due for release. To me though the NZDJPY presents a better downside entry so that’s the pair I’ll be focusing on for the data release today.
Current Technicals: Down
Hourly Resistance: 67.45
Cloud Support: 67.13
NZDJPY HOURLY CHART – Current Price 67.23
Current Fundamentals: Down
Central Bank Sentiment: Down
Geopolitical Impact: Down
Upcoming Potential Fundamental Drivers
Short positions below 67.10 with a target of 66.00
We are looking for the NBNZ Business outlook numbers to come out weaker than the forecast -44.3
Entry: Break of 67.00 (Pending Sell stop order)
Stop Loss: 67.30
Take Profit: Towards 66.10
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