The NZDUSD is pretty much mimicking the AUDUSD except the NZD has the RBNZ right behind it after cutting rates last week and also highlighting global growth concerns. So Trumps latest addition of new tariffs on China gives us two major fundamentals working in unison and that should keep the pressure firmly on the downside.

Current Technicals: Down

Days since Trend started: 30 Days

Number of pips in Trend: 389 pips

NZDUSD HOURLY CHART – Current Price 0.6568

Current Fundamentals: Down

Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 0.6590 with my target at 0.6450.

Alternative Scenario

Above 0.6590 should only see a small stop loss run above 0.6600 before moving lower again.

Execution Software

If trading the technical levels: Trendline Trader

If trading live: T-Rex Live Trader or Guerrilla Trader

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