After a pretty significant uptrend by the NZDUSD, it looks like a nice 2 month long H&S pattern has formed finding the support line at 0.718 which has has been tested 5-6 times. Price has broken that H&S support line then retraced back above the support line only to find aggressive selling and rejected that move up which can be seen by 2 aggressive candlestick whiskers showing big rejection. This can indicate a confirmation of a downtrend happening. At the same time NZDUSD price has also broke the 200 SMA (blue line), another key factor that shows bearish momentum is on the way.
Fundamental: The most recent economic release with the greatest impact for NZD was the NZ Quarterly GDP. The Deviation for the NZ Quarterly GDP is 0.3% and the Forecast at the time was 0.7%. The actual figure came in at 0.4%, which was a negative surprise for NZD.
Fundamental: The most recent economic release with the greatest impact for NZD was the NZ Quarterly GDP. The Deviation for the NZ Quarterly GDP is 0.3% and the Forecast at the time was 0.7%. The actual figure came in at 0.4%, which was a negative surprise for NZD.