The week starts with gaps on pairs with NZD. On main pairs with this currency we observe strong depreciation of NZD. Today’s gap could be seen as a potential opportunity for the so called exhaust gap, ending the downward movement. However, the morning is denying such a scenario. On the M30 chart of NZDUSD can be seen a very slow and weak recovering of losses and attempts to close the gap. This does not look like a dynamic demand-side attack. It is possible that the closure of the gap will be accompanied by a reverse reaction and declines. If this happens, the course should head towards the last low.
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