We are expecting high impact news and probably some movement on NZD.
Very important, the market via price action will show some indications or provide some clues to possible movement.
I will do an analysis on NZDUSD and try to understand what the market is trying to say. Most important of all, it’s the trade management if things should go sour. Trade Management, Money Management.
NZD cash rate on 13 March
NZDUSD broke out of trend line and is supported, yet resisted; look like a cup and handle pattern
At the long term support trend line, we see a 1234 (but no trigger) and this 1234 has a 4 slightly lower than 2
Going into H1, there is a smaller 1234 but it is compulsory for trigger to happen in the big 1234 (marked yellow)
We have immediate resistance at 8485-90, and if price should go up, then next resistance at 8560-70. Will await if price should break and close above the longer TL and if it does, then cup and handle completes