Instrument: NZDUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 0.61583 with take profit at 0.61799.
Bearish Preference:
A sell position is envisaged if the price trades below 0.61311 with take profit at 0.61142.
Fundamentals:
None with High Impact
Comment:
The dollar slipped on Monday as traders stayed on guard ahead of policy decisions this week from several central banks, including the Federal Reserve, who are expected to keep interest rates on hold for the first time since January 2022. The Reserve Bank of New Zealand last month signalled it was done tightening after raising rates to the highest in more than 14 years at 5.5%, ending its most aggressive hiking cycle since 1999. That sent the kiwi tumbling 2.7% in May.
Analysis: SCRUM Team