An Analysis of the New Zealand Dollar to the US Dollar

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EnclaveFX Ltd
Jun 24, 2023
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  • The bulls of the NZD/USD are waiting for a break to the upside in order to test the liquidity of the trendline.
  • In line with the correlations between the RBA meeting and the stock market, all eyes will be on the meeting.

It could be on the verge of breaking upward after being held below a key trendline resistance for a few years. Until something notable happens in the region, Kiwi the Bird is being dominated by global moves. Until then, all eyes will be on the Reserve Bank of Australia's decision on 4 July.

In the last few years, the NZD/USD pair has been held below a key trendline resistance line, but it appears to be about to break above that resistance line. As a result, the Kiwi the Bird is being dominated by global trends until something notable occurs in the region. In the meantime, all eyes will be focused on the Reserve Bank of Australia's decision on July 4ion of the weekly charts' bullish impulse.

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