The bird is flying towards a wall of resistance. All eyes are on the RBNZ and critical US data this week. NZD/USD is around flat on the day as it heads into the Asian session, having travelled between a low of 0.7013 and 0.7049 overnight. Traders are awaiting tomorrow’s the Reserve Bank of New Zealand’s event where a dovish outcome could weigh on the bird. Meanwhile, US data is also a focus with Retail Sales and the Consumer Price Index (CPI) highlights the calendar, both of which could shake up markets a touch. ”The CPI probably surged, and not just due to energy prices this time. We caution against extrapolating, but the core reading will probably be boosted by a bounce in travel-related prices, most notably for airfares, hotels, and used cars,” analysts at TD Securities explained. ”We see some upside risk for rents as well. Changes to the seasonal factors could also be a source of strength, with payback later in the year.” NZD/USD technical analysis Meanwhile, there is a compelling downside bias on the weekly and daily charts according to market structure: Weekly chart 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 Swipe price raises doubts about new rally as SXP loses bullish momentum FX Street 2 years The bird is flying towards a wall of resistance. All eyes are on the RBNZ and critical US data this week. NZD/USD is around flat on the day as it heads into the Asian session, having travelled between a low of 0.7013 and 0.7049 overnight. Traders are awaiting tomorrow's the Reserve Bank of New Zealand's event where a dovish outcome could weigh on the bird. Meanwhile, US data is also a focus with Retail Sales and the Consumer Price Index (CPI) highlights the calendar, both of which could shake up markets a touch. ''The CPI probably surged, and not… 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.
