News & Analysis
NZDUSD – move lower setting up?
Signs emerging on the NZDUSD daily chart that sellers are trying to shift the balance. This morning’s CPI data pushed the price higher to retest at the .7201 level. Buyers evaporated once that level was reached and price lost 34 pips, back to yesterday’s close. In conjunction with this, a lower high with hidden divergence has developed. A continuation setup looks to be forming, further confirmation required before we can call this confirmed.
Chart shapshot for NZDUSD daily shown below.