Technical & Trade ViewNZDUSDBias: Bullish Above Bearish below .6000.6164 Target Achieved, New Pattern EmergingTechnicalsPrimary support is at .6000Primary pattern objective is .6240 Daily HVNAcceptance above .6165 next pattern confirmationFailure below .6000 opens a test of .590020 Day VWAP bullish , 5 Day VWAP bullishInstitutional InsightsWhile the RBNZ led most other DM central banks in starting the cycle, JPMorgan economists expect the Bank to accelerate its hiking pace again to 75bp at the coming meeting after NZ CPI surprised significantly to the upside in 3Q22Analysts at Credit Agricole believe the RBNZ’s aggressive tightening cycle will see NZ lead the rest of the G10 into an economic slowdown, and falling dairy prices on the back of a weak China economy are seeing the NZD underperform. The re-opening of the international border will be a positive for the coming 3M . Soft economic landings locally and internationally will improve the NZD’s prospects over the coming 6-12M.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nzdusd-6164-target-achieved-new-pattern-emerging"
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