NZDUSD Head and shoulders 4-hour chart
NZD is in key area, last candle in this chart as you can see closed below the 200 SMA.
MACD signal and the cross of SMA-50 and SMA-100 with the formation of of head and shoulders, could be strong indicator for this pair to tumble well below the level of 0.71750.
Fundamentals with the FED "talking about talking about tapering" with the U.S PMI flash came positive for the USD, weakened the NZD, but let's wait for the Monday New Zealand Retail and core Sales q/q.
It is also worth to note that the monetary policy statement is due on 26th May Wednesday, but they already left it unchanged so it might keep the policy the same as last month.
MACD signal and the cross of SMA-50 and SMA-100 with the formation of of head and shoulders, could be strong indicator for this pair to tumble well below the level of 0.71750.
Fundamentals with the FED "talking about talking about tapering" with the U.S PMI flash came positive for the USD, weakened the NZD, but let's wait for the Monday New Zealand Retail and core Sales q/q.
It is also worth to note that the monetary policy statement is due on 26th May Wednesday, but they already left it unchanged so it might keep the policy the same as last month.
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