NZD/USD is trading within a steep descending wedge (the bird’s cage if you like) and today’s RBNZ could be the key to open things up and set the bird free, one way or the other. The targets are mapped out and justified by the series of eclipses, prior supports and resistances. The prior session’s high at the 61.8& is a double fib target meeting the recent swing high and low’s 50% Fibo retracement and a potentially strong level of resistance on steady hand from the RBNZ hold scenario; (The Aussie rallied between an open of 0.6980 to 0.7048, 68 pips on the RBA holding the prior session). Higher up, the next level comes in 50 pips to 3rd May highs at 0.6653. On something unexpected, and a sustained break above the resistance of the wedge, the 50% Fibo and 19th April highs guards a run to 0.6708. On the downside, a rate cut would open risk to 0.6540 and a confluence of prior lows/support and Fib levels. 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 Brent technical analysis: Golden crossover confirmed, bigger rally ahead? FX Street 3 years NZD/USD is trading within a steep descending wedge (the bird's cage if you like) and today's RBNZ could be the key to open things up and set the bird free, one way or the other. The targets are mapped out and justified by the series of eclipses, prior supports and resistances. The prior session's high at the 61.8& is a double fib target meeting the recent swing high and low's 50% Fibo retracement and a potentially strong level of resistance on steady hand from the RBNZ hold scenario; (The Aussie rallied between an open of 0.6980 to 0.7048,… 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.