NZD/USD bulls in play with eyes on 0.6480 NZDUSD DollarIndex Fed Currencies RBNZ
NZD/USD W-formation is bullish towards 0.6480 as a probable scenario for the days ahead to meet prior highs and a -61.8% ratio.
''In the context of the past few weeks, ranges were confined and some catalyst is likely needed to see a major breakout,'' analysts at ANZ Bank said in a note to start the week. For the week ahead, the analysts say the focus is on REINZ house prices. ''If they are soft, that might feed the “shock value” thesis and keep downward pressure on local rate-hike expectations, and by extension, the Kiwi.''While being on the backside of the daily bullish impulse and trend, there are still prospects of a move into the trendline resistance.
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