RBNZ holds at 1.75%, but ‘Next rate move is likely down’ sends NZD/USD down Post the RBNZ, the NZD/JPY Technical Analysis: Bullish flag/channel/Ichimoku Cloud all point to 76.90 target has been well and truly negated. Instead, bears have taken out the 24th March lows and the trend line support and en route to the 200-D SMA (blue MA) and the confluence of cloud support that meets the 61.8% Fibo – (A strong level of support). A break below the cloud support opens risk to the 74.50/40 area and late Jan resistance level. For the bullish bias to persist, however, the 74 handle will need to hold, but a break below the 50% Fibo of the same range puts the trend in jeopardy, exposing risk to 73 and then 72.20. NZD/JPY daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next New Zealand 10-year bond yield hits record low FX Street 4 years RBNZ holds at 1.75%, but 'Next rate move is likely down' sends NZD/USD down Post the RBNZ, the NZD/JPY Technical Analysis: Bullish flag/channel/Ichimoku Cloud all point to 76.90 target has been well and truly negated. Instead, bears have taken out the 24th March lows and the trend line support and en route to the 200-D SMA (blue MA) and the confluence of cloud support that meets the 61.8% Fibo - (A strong level of support). A break below the cloud support opens risk to the 74.50/40 area and late Jan resistance level. For the bullish bias to persist, however,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
