Kiwi remains well bid as we head into the FOMC decision later today. Unless they deliver a dovish or an extremely hawkish surprise, I think that after the decision technicals will come back into focus. This is also supported by a lack of market moving economic data from New Zealand this week.
The pair established a firm foothold above 50 DMA, which I see as the current bull/bear line in sand. Below that, 200 DMA is the first in a series of strong levels all the way down to 0.6950. October high (0.7265) is the initial target before 0.73 and November high (0.74).
The pair established a firm foothold above 50 DMA, which I see as the current bull/bear line in sand. Below that, 200 DMA is the first in a series of strong levels all the way down to 0.6950. October high (0.7265) is the initial target before 0.73 and November high (0.74).
