An interesting session took place yesterday on the New Zealand dollar. This currency suffered a sudden weakening after an unexpected communiqué from the RBNZ. Although there has not been a change in interest rates, possible increases have so far been expected. The Central Bank, worried about the global economic slowdown, completely changed the communication, indicating that it is now more likely that the next move will turn out to be a reduction in interest rates. New Zealand’s currency may, therefore, weaken in the near future. On the chart it coincided perfectly with the technique, i.e. with another test of a well-respected resistance zone. Moreover, surprisingly good data on the decreasing trade deficit appeared in the USA. Therefore, we have a certain discrepancy in the actions or words of central banks, which may suggest further drops in the NZD/USD.
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