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
Short positions below 0.6590 with my target at 0.6450.
Above 0.6590 should only see a small stop loss run above 0.6600 before moving lower again.
If trading the technical levels: Trendline Trader
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