Today’s session promises to be interesting on the NZD/USD pair, and on all pairs with the New Zealand currency. The reason is the abundant economic calendar for the USA and New Zealand, for which interest rates will be fixed. This will happen at 11 pm GMT+2. Recently on NZDUSD we observe strong declines, which have reached the support connecting the last year’s lows. On the one hand, one would expect a rebound from support, as it was in the past. On the other hand, looking from the wide, monthly perspective, you can see that the period of sideway movement can only be a stop before continuing declines, which began in mid-2014. Breaking the support at 0.6780 can thus open a space for declines and create new transaction opportunities, also on other pairs with NZD.
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