Technical Analysis – NZDUSD tumbles, bearish outlook below 0.7000
Posted on September 10, 2015 at 7:23 am GMTNZDUSD collapsed to 0.6256 early on Thursday after the RBNZ rate cut. Any move higher would likely find resistance at the kijun-sen line and yesterday’s high of 0.6424. To the downside, a break below this week’s low of 0.6242 would see a retest of the 6-year low of 0.6139. A fall below this trough would and accelerate a further decline. The technical indicators are supporting the bearish outlook. The daily Ichimoku cloud is falling and the tenkan-sen is below the [..]