Trade of the Day - NZDUSD
21 April 2022
Trend on general is more on downtrend. Today the inflation data from NZD show and increasement toward 2.0% MoM goal thus the possibility of rate hike for NZD also increasing in which can reverse the current trend.
Price right now coming close to the key zone price near the upper ceiling of the trend line in which a good key zone price. The movement of the market will be affected by the news from US later.
Prediction is on the Powell speech later in which it will either boost the USD or weaken it. In case of the USD got boosted the price will continue drop following the downward channel. In the reverse case, if its unable to strengthen the USD, the price movement can break above the channel.