NZD/USD likely to fall!
Hey tradomaniacs,
NZD/USD has created a double-top at the key-resistance-zone with the break and retest of the previous trendline.
Could be a good opportunity to short even though fundamentals are very mixxed as the market has no idea how to react to the todays ECB-Statement.
Strong Rate-Hikes combined with a bad outlook for the next quarter and year is usually a very bad combination and could boost the US-Dollar with a rosk-off-sentiment.
On the other hand the market could price in less rate-hikes when inflation settles down and the up-inflation-risk weakens.
However, technically a good chance.
NZD/USD has created a double-top at the key-resistance-zone with the break and retest of the previous trendline.
Could be a good opportunity to short even though fundamentals are very mixxed as the market has no idea how to react to the todays ECB-Statement.
Strong Rate-Hikes combined with a bad outlook for the next quarter and year is usually a very bad combination and could boost the US-Dollar with a rosk-off-sentiment.
On the other hand the market could price in less rate-hikes when inflation settles down and the up-inflation-risk weakens.
However, technically a good chance.
bearish footprint...